Guggenheim analyst Michael Schmidt raised the firm’s price target on Kymera Therapeutics (KYMR) to $60 from $52 and keeps a Buy rating on the shares. Phase 1 healthy volunteer data for KT-621 “convincingly checked all the boxes on initial proof-of-mechanism,” the analyst tells investors. Following the data, the firm is increasing its view on the odds of success for KT-621 to 20% from 15% previously and also tweaking its assumptions for the potential commercial ramp, the analyst added.
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Read More on KYMR:
- Kymera Therapeutics’ KT-621 Shows Promising Trial Results, Supporting Buy Rating
- Promising Potential of Kymera Therapeutics’ KT-621: Strong Therapeutic Effect and Buy Rating Affirmed
- Kymera Therapeutics price target raised to $64 from $57 at JPMorgan
- Kymera Therapeutics upgraded to Buy from Neutral at B. Riley
- Kymera Therapeutics’ KT-621 Shows Promising Potential, Upgraded to Overweight with $79 Target