BofA analyst Geoff Meacham downgraded Kymera Therapeutics to Neutral from Buy with a price target of $30, down from $45. While the firm remains “impressed with the pipeline de-risking thus far,” it argues that 2024 looks likely to be “more about validation of prior data versus many new data reveals” and it looks to pivot focus to more actionable SMID biotechs in its coverage universe.
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