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On Monday, Stifel analysts maintained their Buy rating and $55.00 price target on Kymera Therapeutics stock (NASDAQ: KYMR), currently trading at $38.41, following the release of promising clinical outcomes from the Phase 1 study of KT-621. With analyst targets ranging from $38 to $97 and 8 analysts recently revising earnings upwards, InvestingPro data suggests strong market interest in this $2.49 billion market cap company. The study involved healthy volunteers and showcased KT-621 as a first-in-class, oral STAT6 degrader medicine.
The analysts highlighted that the results exceeded expectations, marking the first in-human data for a STA6 degrader. KT-621 demonstrated significant target engagement in the study, with multiple ascending dose (MAD) levels achieving reductions greater than 95%, primarily below the lower limit of quantification (LLOQ). They noted that downstream pharmacodynamic markers such as TARC and IgE were consistent with those of Dupixent. For deeper insights into Kymera’s financial health and growth potential, InvestingPro offers a comprehensive Pro Research Report, part of its coverage of over 1,400 US stocks.
Safety and once-daily dosing were successfully achieved, with the highest 200mg MAD dose considered to be a competitive commercial dose, although lower doses are also feasible. The study’s findings pave the way for further research, with Phase 1b open-label data in atopic dermatitis expected in the fourth quarter, followed by Phase 2b studies in atopic dermatitis and asthma. With a beta of 2.19, investors should note the stock’s higher volatility compared to the market.
The analysts also pointed out that STAT6 is a strategically important oral target in the inflammation and immunology space, as commercial entities aim to broaden treatment options with biologic-like oral medications. This includes efforts to penetrate large and expanding markets with treatments similar to JNJ-2113 for conditions like psoriasis and ulcerative colitis. The company maintains strong liquidity with a current ratio of 8.49, though InvestingPro analysis indicates it’s not yet profitable, with additional financial metrics available through the platform’s extensive research tools.
In other recent news, Kymera Therapeutics announced positive 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 blood and skin at doses equal to or greater than 50 mg. The treatment was well-tolerated, showing no serious adverse events, and presented a safety profile comparable to placebo. These results have bolstered confidence in KT-621’s potential as a treatment for IL-4/IL-13-driven allergic diseases. Citi analysts reaffirmed their Buy rating on Kymera stock with a price target of $52.00, citing the promising trial results. Stifel analysts also resumed coverage on Kymera with a Buy rating and a $55.00 price target, noting the company’s innovative approach in the immunology and inflammation sector. 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 late 2025 and early 2026, respectively.
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