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Investing.com - Truist Securities raised its price target on Kymera Therapeutics (NASDAQ:KYMR) to $68.00 from $53.00 on Monday, while maintaining a Buy rating on the stock. The company’s shares have shown remarkable momentum, gaining 15% in the past week and trading near its 52-week high of $58.59.
The price target adjustment follows a virtual event featuring Kymera’s CEO and CMO last week, which prompted the firm to update its model to reflect approximately $1.9 billion in peak adjusted sales for the company’s KT-621 program. According to InvestingPro data, 11 analysts have recently revised their earnings expectations upward, with price targets ranging from $53 to $92.
Truist noted increased conviction in the KT-621 program over the longer term, with Phase 1b data readout expected in the fourth quarter of 2025.
The firm highlighted management’s continued high conviction in KT-621’s potential, citing the robust degradation and favorable safety profile observed in the Phase 1 study. Truist expects the upcoming Phase 1b data to be comparable to Dupixent’s 28-day results.
Truist also emphasized KT-621’s potential to expand market opportunity with its oral administration route, which could provide differentiation in the marketplace.
In other recent news, Kymera Therapeutics reported its Q2 2025 earnings, which showed a significant shortfall. The company posted an earnings per share (EPS) of -$0.95, missing analysts’ expectations of -$0.83. Revenue for the quarter was $11.5 million, significantly below the anticipated $20 million. Despite the earnings miss, several investment firms have shown confidence in Kymera’s potential. Wolfe Research raised its price target for Kymera to $88, citing the potential of its KT-621 drug. H.C. Wainwright also increased its price target to $70, maintaining a Buy rating. Barclays initiated coverage with an Overweight rating, highlighting promising early clinical data for KT-621. Additionally, RBC Capital started coverage with an Outperform rating, expressing optimism about the drug’s upcoming Phase Ib results.
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