Kymera Therapeutics price target raised to $80 from $68 at Truist

Truist raised the firm’s price target on Kymera Therapeutics (KYMR) to $80 from $68 and keeps a Buy rating on the shares. The firm is positive on the company’s conviction in KT-621 potential, the Phase 2b initiation/dosing an additional indication, and the robust degradation and favorable safety profile seen in the Phase 1 study, the analyst tells investors in a research note. Truist adds that its key opinion leader checks indicate continued enthusiasm for KT-621 from a mechanistic perspective and give the firm confidence in clinical translation.