BTIG analyst Jeet Mukherjee raised the firm’s price target on Kymera Therapeutics (KYMR) to $59 from $55 and keeps a Buy rating on the shares. The company has announced the decision to advance next-gen IRAK4 degrader, KT-485, over KT-474 currently in Phase 2 studies, and while the decision delays the time to key Phase 2 data, the firm sees it as a long-term positive, allowing Kymera and Sanofi (SNY) to advance a molecule with greater selectivity and potency, the analyst tells investors in a research note.
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