Kymera Therapeutics price target raised to $112 from $71 at BofA

BofA raised the firm’s price target on Kymera Therapeutics (KYMR) to $112 from $71 and keeps a Buy rating on the shares after the company reported positive results for its Phase 1b study assessing KT-621 in moderate to severe atopic dermatitis. The firm is “encouraged” by the results, which it thinks supports KT-621 as having a clinical profile similar to dupilumab, but with a more convenient oral administration, believes the drug could expand the AD market if approved, the analyst tells investors.