JPMorgan analyst Eric Joseph raised the firm’s price target on Kymera Therapeutics (KYMR) to $64 from $57 and keeps an Overweight rating on the shares. The firm says the K-621 Phase 1 data were in-line with its expectations supporting a Dupixent-like profile in an oral, daily form. The analyst views the healthy volunteer signal as “derisking” for KT-621 and the STAT6 space in general, and now looks forward to the Phase 1b BroADen data in atopic dermatitis patients Q4, which the firm believes will provide more stable data to benchmark. JPMorgan raised its probability of sucess for the KT-621 programs in both atopic dermatitis and asthma from to 20% from 15%.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KYMR:
- Kymera Therapeutics upgraded to Buy from Neutral at B. Riley
- Kymera Therapeutics’ KT-621 Shows Promising Potential, Upgraded to Overweight with $79 Target
- Kymera Therapeutics upgraded to Overweight from Equal Weight at Morgan Stanley
- Kymera Therapeutics price target raised to $60 from $52 at Citi
- Kymera Therapeutics upgraded to Buy at BofA after KT-621 data
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue