David Dai, an analyst from UBS, maintained the Buy rating on Kymera Therapeutics. The associated price target is $90.00.
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David Dai has given his Buy rating due to a combination of factors that highlight the promising potential of Kymera Therapeutics’ KT-621. The Phase 1b clinical trial results for KT-621 in moderate-to-severe atopic dermatitis patients demonstrated significant efficacy and safety, comparable to dupilumab but with the added convenience of oral administration. The trial showed deep STAT6 degradation and substantial reductions in Type 2 biomarkers, which are critical indicators of the drug’s effectiveness.
Moreover, KT-621’s performance exceeded expectations with a notable reduction in EASI and pruritus scores, suggesting a strong therapeutic effect. The continuation of efficacy improvement at the end of the trial period indicates potential for further positive outcomes in future trials. Additionally, the observed FeNO reduction in patients with comorbid asthma suggests a promising outlook for the upcoming asthma trials. These results support the view that KT-621 could become a best-in-class therapy, justifying the Buy rating as the drug progresses through its development stages.
Dai covers the Healthcare sector, focusing on stocks such as Summit Therapeutics, Moderna, and IDEAYA Biosciences. According to TipRanks, Dai has an average return of 7.0% and a 54.72% success rate on recommended stocks.
In another report released today, Citi also maintained a Buy rating on the stock with a $110.00 price target.