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On Tuesday, Stifel analysts increased their price target for Kymera Therapeutics stock, listed on NASDAQ as KYMR, to $68 from the previous $55 while maintaining a Buy rating. The $2.81 billion market cap company has seen remarkable momentum, with a 53% surge in the past week. According to InvestingPro data, nine analysts have recently revised their earnings expectations upward, with price targets ranging from $51 to $97. The adjustment follows positive results from a Phase 1 trial of KT-621, a STAT6-degrader, which demonstrated promising pharmacokinetic and pharmacodynamic profiles across a wide dosage range.
The analysts highlighted that KT-621 showed a commercially competitive product profile with no significant safety concerns. The highest dose tested was 200mg QD, which did not present any red flags in terms of safety. As a result, the probability of success for KT-621 in treating Atopic Dermatitis has been increased to 60% from 45%. InvestingPro analysis indicates the stock’s technical momentum may be stretched, with RSI suggesting overbought conditions. Subscribers can access 10 additional ProTips and comprehensive analysis in the Pro Research Report.
The update also reflects strong evidence supporting the targeting of STAT6, with the analysts noting the successful translation from preclinical to human trials. The upcoming Phase 1b readout in the fourth quarter of 2025 is expected to provide further validation, particularly if it matches the biomarker impacts of Dupixent, such as a 70-80% reduction in TARC.
Stifel analysts emphasized the importance of biomarkers in assessing the trial’s success, acknowledging the potential limitations due to the small, open-label nature of the study. The firm remains optimistic about KT-621’s prospects, anticipating further derisking with continued positive clinical evidence. The company maintains a strong financial position with a current ratio of 8.49, indicating robust liquidity to support its clinical development programs.
In other recent news, Kymera Therapeutics has reported significant developments that have caught the attention of multiple analyst firms. B. Riley upgraded Kymera’s stock rating from Neutral to Buy, raising the price target to $60 following the release of promising first-in-human data for KT-621, which met key benchmarks for target engagement and safety. Morgan Stanley (NYSE:MS) also upgraded the stock from Equalweight to Overweight, increasing the price target to $79, citing the promising development of KT-621 and its broad therapeutic window, particularly in dermatology applications. Meanwhile, Truist Securities maintained its Buy rating with a price target of $53, following positive clinical results from a Phase 1 study of KT-621, highlighting its potential as an oral alternative to existing treatments like Dupixent.
H.C. Wainwright reiterated a Buy rating, maintaining a $54 price target, emphasizing the importance of recent trial data that supports the ongoing development of KT-621. Wells Fargo (NYSE:WFC) also reaffirmed an Overweight rating with a $57 price target, noting strategic interest in the STAT6 target and expressing optimism about Kymera’s growth trajectory. These recent analyst actions reflect a strong consensus on the potential of Kymera’s KT-621, with several firms expressing confidence in its future prospects. The positive reception of the trial data has positioned Kymera favorably in the biopharmaceutical sector, with potential implications for patient access to innovative treatments.
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