Leerink Partners analyst Faisal Khurshid reiterated a Buy rating on Kymera Therapeutics (KYMR – Research Report) on February 27 and set a price target of $60.00.
Faisal Khurshid’s rating is based on several promising developments within Kymera Therapeutics’ pipeline that suggest a strong potential for future growth. The company has outlined an exciting 2025 catalyst path, particularly with their targeted protein degrader (TPD) platform, which is expected to yield best-in-class oral degraders for inflammatory and immunology (I&I) applications. The anticipated data from 2025 to 2026 could provide crucial proof of concept, enhancing the company’s value proposition.
In addition, Kymera Therapeutics has provided new insights into their Phase 1b trial of KT-621 for atopic dermatitis, which will be a single-arm, open-label study. This trial aims to evaluate the biomarker signature of KT-621 without the need for a placebo, focusing on initial efficacy endpoints. Furthermore, the company plans to unveil a novel oral immunology development candidate in May 2025, which adds to the positive outlook. These strategic developments and the management’s confidence in their degraders for I&I underpin Khurshid’s Buy rating for the stock.
In another report released on February 28, UBS also reiterated a Buy rating on the stock with a $72.00 price target.