Wells Fargo lowered the firm’s price target on Kymera Therapeutics (KYMR) to $53 from $57 and keeps an Overweight rating on the shares. Sanofi’s (SNY) shifting from KT-474 to KT-485 is a modest disappointment, but will mostly just push timelines for a program that Kymera receives only economics for, the analyst tells investors in a research note. The firm sees limited downside and no risk to KT-621.
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