Promising Potential of Kymera Therapeutics’ KT-621: Strong Therapeutic Effect and Buy Rating Affirmed

BTIG analyst Jeet Mukherjee has maintained their bullish stance on KYMR stock, giving a Buy rating today.

Jeet Mukherjee has given his Buy rating due to a combination of factors that highlight the promising potential of Kymera Therapeutics’ STAT6 degrader, KT-621. The initial data from healthy volunteers showed significant degradation of STAT6 in both blood and skin, achieving over 90% reduction at certain doses. This result is crucial as it indicates a strong therapeutic effect with a rapid onset and a clean safety profile, with no serious adverse events reported.
Furthermore, the biomarker changes observed in the study support KT-621’s potential to mimic the effects of Dupixent on Th2 biology. The reductions in key biomarkers such as TARC and IgE were in line with expectations, and the additional reduction in Eotaxin-3 was notably higher than that seen with Dupixent in other studies. These results affirm the biological mechanism of KT-621 and suggest a promising outlook for its efficacy in future trials. Mukherjee’s valuation approach, considering a discount rate and terminal growth rate, further supports the Buy rating for KYMR.

In another report released today, B.Riley Financial also upgraded the stock to a Buy with a $60.00 price target.

KYMR’s price has also changed slightly for the past six months – from $47.740 to $43.130, which is a -9.66% drop .