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Kymera Therapeutics price target raised to $60 from $52 at Guggenheim

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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