J.P. Morgan analyst Brian Cheng has maintained their bullish stance on KYMR stock, giving a Buy rating today.
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Brian Cheng has given his Buy rating due to a combination of factors that highlight Kymera Therapeutics’ promising developments. The recent data from the Phase 1b trial of their STAT6 degrader for atopic dermatitis showed strong efficacy and biomarker results, setting a high standard for competitors. The narrow deviation in EASI scores and other endpoints indicates a consistent and effective treatment outcome, which was well-received by management.
Additionally, there are indications that Kymera’s treatment could surpass existing therapies like Dupixent, with potential superior efficacy shown in certain biomarkers. The subset analysis for patients with comorbid asthma further supports the treatment’s potential, showing significant improvements. Moreover, initial concerns regarding heterogeneity and other factors did not materialize, strengthening the positive outlook on Kymera’s profile. These factors collectively contribute to the Buy rating, as they suggest a strong competitive position and potential for further success in upcoming trials.
According to TipRanks, Cheng is a 2-star analyst with an average return of 0.8% and a 50.61% success rate. Cheng covers the Healthcare sector, focusing on stocks such as Revolution Medicines, Zymeworks, and CG Oncology, Inc..
In another report released today, Piper Sandler also reiterated a Buy rating on the stock with a $125.00 price target.