Kymera Therapeutics initiated with an Overweight at Stephens

Stephens analyst Sudan Loganathan initiated coverage of Kymera Therapeutics (KYMR) with an Overweight rating and $65 price target The firm is adding to its Biotechnology research coverage with a focus on targeted protein degradation, or TPD, technology and commercial and clinical-stage rare disease-focused companies. Kymera is a “first-in-class TPD company” for immunology and inflammatory, or I&I, indications, which has a “robust pipeline” for validated I&I targets for larger market opportunities, the analyst tells investors.