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Investing.com - Brookline Capital Markets has lowered its price target on Kymera Therapeutics (NASDAQ:KYMR) to $65.00 from $70.00 while maintaining a Buy rating on the stock. The new target represents a significant upside from the current trading price of $44.79, with InvestingPro data showing strong analyst consensus supporting a bullish outlook.
The firm adjusted its financial projections for Kymera following changes to the company’s cash position and share count. According to InvestingPro data, the company maintains a healthy financial position with a current ratio of 8.49 and more cash than debt on its balance sheet. Brookline’s revenue and operating income estimates for 2025-2035 remain unchanged.
The research firm increased its net interest income estimates by 15.2%, 42.9%, and 143.6% for 2025-2027, while reducing projections for 2028-2033 by varying percentages. Estimates for 2034-2035 were increased by 15.4% each year.
Brookline also adjusted its share count estimates upward by 3.9% for 2025 and by 7.8% for 2026-2035. These changes led to decreased loss-per-share estimates from 2025-2031 and modified earnings-per-share projections for 2032-2035.
The price target reduction from $70 to $65 directly reflects these adjusted financial estimates, according to Brookline Capital Markets.
In other recent news, Kymera Therapeutics reported several significant developments. The company announced a $250 million public stock offering, with an option for underwriters to purchase an additional $37.5 million in shares, subject to market conditions and regulatory approval. This capital raise is intended to support the advancement of Kymera’s preclinical and clinical degrader programs. Brookline Capital Markets adjusted its price target for Kymera to $70 from $97, citing changes in collaboration revenue timing with Sanofi (NASDAQ:SNY) and revised revenue estimates for upcoming years. Meanwhile, Morgan Stanley (NYSE:MS) initiated coverage with an Overweight rating and a $70 price target, emphasizing the potential of Kymera’s KT-621 in atopic dermatitis and asthma. BofA Securities raised its price target to $54 from $51, maintaining a Buy rating, following pipeline updates, including Sanofi’s decision to advance KT-485 into clinical trials. H.C. Wainwright also increased its price target to $60 from $54, highlighting the STAT6 program as a key value driver. These recent developments illustrate Kymera’s strategic focus on its pipeline and collaborations.
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