Citi raises Kymera stock price target to $60 on positive data

On Monday, Citi analysts raised the price target for Kymera Therapeutics stock (NASDAQ: KYMR) to $60 from $52 while maintaining a Buy rating. This change follows the release of positive phase 1 data for KT-621, a STAT6 degrader, which showed promising results in healthy volunteers. According to InvestingPro data, eight analysts have recently revised their earnings estimates upward, with price targets ranging from $38 to $97. The stock, currently trading at $43.09, appears overvalued based on InvestingPro’s Fair Value analysis.

The phase 1 study demonstrated near-complete STAT6 degradation in both single ascending dose (SAD) and multiple ascending dose (MAD) cohorts. The data also highlighted an excellent safety profile, with no serious adverse events even at higher doses. Additionally, the study revealed significant reductions in Th2 biomarkers, with TARC and IgE reductions aligning with Dupixent, and Eotaxin-3 reduction surpassing Dupixent’s results. With a beta of 2.19, investors should note that KYMR exhibits significant price volatility compared to the broader market.

Citi analysts believe these findings de-risk KT-621 and position it favorably for the upcoming phase 1b atopic dermatitis readout expected in the fourth quarter of 2025. The analysts highlighted Kymera’s robust platform and potential for generating drugs with strong target degradation as key factors in their assessment.

Kymera’s financial position was also noted, with a healthy cash runway projected through the first half of 2028, which supports the company’s ongoing research and development efforts. InvestingPro data confirms the company’s strong liquidity position, with a current ratio of 8.49 and more cash than debt on its balance sheet. The analysts emphasized that the recent data strengthens the investment case for Kymera, maintaining their Buy rating alongside the updated price target. For deeper insights into KYMR’s financial health and growth prospects, discover more exclusive metrics and analysis available through InvestingPro’s comprehensive research reports.

In other recent news, Kymera Therapeutics announced promising results from its Phase 1 trial of KT-621, an oral STAT6 degrader. The trial demonstrated over 90% mean STAT6 degradation in blood at doses above 1.5 mg, with complete degradation in both blood and skin at doses of 50 mg or higher. The safety profile of KT-621 was reported to be excellent, with no serious adverse events, bolstering investor confidence in the treatment’s potential for IL-4/IL-13-driven allergic diseases. Following these results, BofA Securities upgraded Kymera’s stock from Neutral to Buy, raising the price target to $51. Similarly, Stifel and Citi analysts maintained their Buy ratings, with price targets of $55 and $52, respectively, reflecting optimism about the drug’s future prospects. Kymera is actively recruiting for its BroADen Phase 1b trial in moderate to severe atopic dermatitis, with results expected in the fourth quarter of 2025. The company also plans to initiate Phase 2b trials in atopic dermatitis and asthma by the end of 2025 and early 2026. Analysts noted that KT-621’s performance could potentially lead to a shift in treatment paradigms for Th2-mediated diseases, offering a convenient oral alternative to injectable biologics.

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