Kymera Therapeutics price target raised to $103 from $70 at RBC Capital

RBC Capital raised the firm’s price target on Kymera Therapeutics (KYMR) to $103 from $70 and keeps an Outperform rating on the shares. The firm has had the chance to further digest Kymera’s recent Phase 1b atopic dermatitis data and considering its potential implications, RBC believes there remains additional upside potential for shares even after the data uptick,the analyst tells investors in a research note. Kymera is increasingly well-positioned to be a leader across a wide range of high-opportunity I&I – Immunology and Inflammation – indications with an emerging modality offering a more convenient alternative, the firm added.