Kymera Therapeutics price target lowered to $123 from $127 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Kymera Therapeutics (KYMR) to $123 from $127 and keeps an Overweight rating on the shares. Kymera provided its Q4 update, highlighting the market opportunity in type 2 diseases and continued progress across its degrader pipeline in 2026, the analyst tells investors in a research note. The firm noted that, consistent with its view, management emphasized that a growing market across type 2 diseases should support multiple new therapies, considering the millions of untreated patients, limitations of advanced therapies, and the significant expansion observed in more mature immunology markets like psoriasis.