Citi Raises Kymera (KYMR) Price Target After Positive Drug Data, Keeps Buy Rating

On Monday, June 2, Citi analysts increased the price target on Kymera Therapeutics, Inc. (NASDAQ:KYMR) from $52 to $60 and kept a “Buy” rating. This decision came after the release of positive clinical results from the Phase 1 healthy volunteer study of KT-621, the company’s first-in-class, oral STAT6 degrader medicine.

The phase 1 study showed near-complete STAT6 degradation in both single ascending dose (SAD) and multiple ascending dose (MAD) cohorts. Kymera Therapeutics, Inc. (NASDAQ:KYMR) reported that there were no serious adverse events and the data revealed an excellent safety profile for KT-621.

Citi Raises Kymera (KYMR) Price Target After Positive Drug Data, Keeps Rating

A biopharmaceutical laboratory with scientists in lab coats working on medicines.

Additionally, Th2 biomarker results were very encouraging as well, with TARC and lgE reductions similar to Dupixent. Additionally, Eotaxin-3 reduction was more effective than Dupixent.

Citi analysts are confident that these findings de-risk KT-621 ahead of its phase 1b atopic dermatitis readout expected in Q4 2025. The firm’s analysts praised Kymera Therapeutics, Inc. (NASDAQ:KYMR) for its drug development platform and potential for developing drugs with impressive degradation.

Kymera Therapeutics, Inc.’s (NASDAQ:KYMR) strong cash position was also noted. The company has a healthy cash runway to support its research and development efforts through the first half of 2028.

Kymera Therapeutics, Inc. (NASDAQ:KYMR) is a clinical-stage biotechnology company that is focused on inventing a new generation of small molecule medicines by tackling the root cause of disease with targeted protein degradation.

While we acknowledge the potential of KYMR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than KYMR and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds.

Disclosure: None.