Guggenheim raised the firm’s price target on Kymera Therapeutics (KYMR) to $52 from $45 and keeps a Buy rating on the shares. The firm is updating estimates to reflect Q3 financial results and updated cash runway and removing KT-253 and KT-333 from its model while adjusting estimates for KT-621 and KT-295 after the company business update included the deprioritization of its clinical stage oncology portfolio as part of the company’s “proclaimed shift” towards focusing investments on its immunology programs.
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