Morgan Stanley analyst Judah Frommer assumed coverage of Kymera Therapeutics (KYMR) with an Overweight rating and a price target of $70, down from $79. Healthy volunteer data with KT-621 “suggests a potential multi-blockbuster opportunity,” the analyst tells investors. Partnerships with Sanofi (SNY) and Gilead (GILD) further validate Kymera’s drug discovery and protein degradation capabilities, the analyst added.
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