Morgan Stanley upgraded Kymera Therapeutics (KYMR) to Overweight from Equal Weight with a price target of $79, up from $49. The company reported Phase 1 data for STAT6 degraded KT-621 thtat the firm believes addressed key questions on safety and target knockdown, the analyst tells investors in a research note. The firm added that the data increases its confidence in KT-621’s ability to compete across large immunology and inflammation indications and in Kymera’s platform more broadly.
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