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On Monday, Truist Securities analysts reaffirmed their Buy rating for Kymera Therapeutics stock, maintaining a price target of $53.00. The stock, currently trading at $43.07, has seen significant volatility recently, with analyst targets ranging from $38 to $97. According to InvestingPro data, eight analysts have recently revised their earnings expectations upward for the upcoming period. This follows the company’s announcement of positive clinical results from the Phase 1 healthy volunteer study of KT-621, an oral STAT6 degrader medicine.
The study showed KT-621 achieving rapid and sustained degradation of STAT6, a signaling protein linked to several inflammatory diseases. Analysts at Truist Securities expressed optimism about KT-621, comparing it to an oral version of Dupixent, which generates approximately $14 billion in annual sales across various indications.
Despite the positive results, some investor concerns remain regarding KT-621’s impact on additional immune biomarkers, such as IgE. These biomarkers might be harder to assess in healthy volunteers due to their lower baseline levels of inflammatory markers. Analysts noted that similar outcomes were observed in early-stage studies of Dupixent.
Looking ahead, Truist Securities is eager to see further data from the Phase 1b study, expected in the fourth quarter of 2025. This data will be crucial in validating the benefits of KT-621 for patients with atopic dermatitis.
In other recent news, Kymera Therapeutics has reported 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 at multiple ascending dose levels of 50 mg or higher. Safety profiles were favorable, showing no serious adverse events, which has bolstered investor confidence. Citi analysts responded by raising the price target for Kymera to $60 while maintaining a Buy rating, citing the strong data and a robust platform for drug development. BofA Securities also upgraded Kymera from Neutral to Buy, increasing the price target to $51, highlighting the trial’s promising results. Stifel analysts reiterated their Buy rating with a $55 price target, emphasizing the significance of the trial as a first-in-human study for a STAT6 degrader. Kymera is actively recruiting for a Phase 1b trial in moderate to severe atopic dermatitis, with results expected in the fourth quarter of 2025. The company plans to launch two Phase 2b trials in atopic dermatitis and asthma in late 2025 and early 2026, respectively.
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