Kymera Therapeutics, Inc.’s (KYMR) Upgraded to Buy Following Positive Phase 1 Results for Oral STAT6 Degrader

B. Riley raised Kymera Therapeutics, Inc.’s (NASDAQ:KYMR) price target from $38 to $60, upgrading it from Neutral to Buy on June 3, 2025. This upgrade came soon after the company shared positive results from its Phase 1 trial of oral STAT6 degrader KY-621.

Kymera Therapeutics, Inc. (NASDAQ:KYMR), which is a clinical-stage biopharmaceutical company, develops small molecules that help the body remove harmful proteins. The company reported that KT-621 exceeded expectations in healthy participants.

Kymera Therapeutics, Inc. Upgraded to Buy Following Positive Phase 1 Results for Oral STAT6 Degrader

A biopharmaceutical laboratory with researchers at work analyzing complex molecules.

The trial was conducted in a double-blind, placebo-controlled setting. The results showed that the degrader KY-621 was able to reduce protein levels by over 90% at doses above 1.5 mg. Furthermore, it demonstrated the ability to eliminate STAT6 in blood and skin at doses of 50 mg or more. The treatment was well tolerated, with no serious side effects reported.

According to B. Riley, these results help cut down the skepticism among investors about the risks associated with the degrader. Furthermore, the firm considers KT-621 a potential top-tier oral alternative to injectable drugs such as dupilumab. He notes this will appeal to patients who avoid injections. Thus, B. Riley’s upgrade reflects promising signs for Kymera Therapeutics, Inc.’s (NASDAQ:KYMR) drug development and future growth.

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