TD Cowen analyst Marc Frahm has maintained their bullish stance on KYMR stock, giving a Buy rating on March 1.
Marc Frahm has given his Buy rating due to a combination of factors highlighting Kymera Therapeutics’ innovative approach in protein degradation. The firm’s lead compounds, KT-621 and KT-294, are poised to offer oral alternatives to injectable drugs in their respective pathways, showcasing the potential for a competitive edge in the market. Kymera’s KT-621 targets STAT6, an integral component in the IL4/13 pathway, and presents strong preclinical data demonstrating high specificity and efficacy, which could mirror the clinical profile of the successful drug Dupixent. With a Phase I trial expected to commence in the second half of 2024, Kymera’s progress in developing KT-621 is particularly promising.
Furthermore, Kymera’s KT-294, which focuses on inhibiting the IL-12/23 pathway by degrading TYK2, seeks to improve upon the partial inhibition achieved by current small molecule inhibitors. The ambition to attain complete TYK2 suppression could result in efficacy that more closely resembles biological treatments, potentially setting a new standard for the class. The anticipated entrance into clinical trials in the first half of 2025 signals further advancements in Kymera’s pipeline. Marc Frahm’s positive outlook is bolstered by these strategic developments within Kymera Therapeutics, which could lead to significant advancements in treatment options and position the company ahead of its competitors.
In another report released on March 1, Truist Financial also reiterated a Buy rating on the stock with a $54.00 price target.
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Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KYMR in relation to earlier this year.
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Kymera Therapeutics (KYMR) Company Description:
Kymera Therapeutics Inc is a biotechnology company pioneering a transformative new approach to treating previously untreatable diseases. The company is advancing the field of targeted protein degradation, accessing the body’s innate protein recycling machinery to degrade dysregulated, disease-causing proteins. Kymera’s Pegasus targeted protein degradation platform harnesses the body’s natural protein recycling machinery to degrade disease-causing proteins, with a focus on un-drugged nodes in validated pathways currently inaccessible with conventional therapeutics. It is accelerating drug discovery with an unmatched ability to target and degrade the intractable of proteins, and advance new treatment options for patients.
Read More on KYMR:
- Kymera Therapeutics presents preclinical data for STAT6, TYK2 degrader programs
- Kymera Therapeutics Presents Preclinical Data for STAT6 and TYK2 First-In-Class, Oral Degrader Immunology Programs at the American Academy of Dermatology Annual Meeting
- Kymera Therapeutics price target raised to $54 from $41 at Truist
- Kymera Therapeutics to Participate in Upcoming March Investor Conferences
- Kymera Therapeutics price target raised to $56 from $39 at Piper Sandler
