RBC Capital analyst Brian Abrahams initiated coverage of Kymera Therapeutics (KYMR) with an Outperform rating and $70 price target The firm’s analysis of the company’s lead drug KT-621’s profile and key opinion leader feedback provide confidence that the drug will demonstrate “compelling” proof of concept on Eczema Area and Severity Index reductions and biomarkers for STAT6 degradation in the upcoming Phase Ib atopic dermatitis readout. RBC sees a $4.8B U.S. sales opportunity for KT-621 in atopic dermatitis and asthma alone.
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