Wells Fargo analyst Derek Archila raised the firm’s price target on Kymera Therapeutics (KYMR) to $116 from $69 and keeps an Overweight rating on the shares. The firm cites KT-621’s positive Phase 1b results in atopic dermatitis, which also helps de-risk other indications. Wells thinks shares deserve to trade at a premium, and will also price in M&A speculation post data.
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