H.C. Wainwright analyst Andrew Fein raised the firm’s price target on Kymera Therapeutics (KYMR) to $134 from $84 and keeps a Buy rating on the shares. The firm says the latest KT-621 data validated the “dupilumab-in-a-pill” thesis. KT-621 posted biologic-like efficacy with a clean safety profile that potentially solves the “oral gap” in atopic dermatitis, the analyst tells investors in a research note. H.C. Wainwright believes the Phase 1b readout “de-risks the platform by proving effective translation to diseased tissue.” It updated Kymera’s model to reflect higher probability of success assumptions for atopic dermatitis and the inclusion of the asthma franchise.
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Read More on KYMR:
- Kymera Therapeutics price target raised to $120 from $67 at Oppenheimer
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