Kymera Therapeutics price target lowered to $119 from $123 at Morgan Stanley

Morgan Stanley analyst Judah Frommer lowered the firm’s price target on Kymera Therapeutics (KYMR) to $119 from $123 and keeps an Overweight rating on the shares. Kymera Therapeutics highlighted continued progress across its degrader pipeline in its Q1 update, with strong early interest in lead candidate KT-621 and ongoing enrollment in mid-stage studies, while additional pipeline advancements, including KT-579 development, reinforce the platform’s broader potential despite key clinical readouts still being several years away, the analyst tells investors in a research note.