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.

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.

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Disclosure: None.