Buy Rating Affirmed for Kymera Therapeutics Backed by Promising KT-253 Program Data and Upcoming ASCO Meeting Anticipation

H.C. Wainwright analyst Andrew Fein has maintained their bullish stance on KYMR stock, giving a Buy rating on April 22.

Andrew Fein has given his Buy rating due to a combination of factors including the promising data surrounding Kymera Therapeutics’ KT-253 program and the anticipation of further positive results at the upcoming American Society of Clinical Oncology (ASCO) meeting. The data is expected to reinforce the efficacy and safety of KT-253, with particular emphasis on the significant fold-change in GDF-15 levels, a biomarker associated with poor survival in solid cancers, which suggests successful degradation of MDM-2. Additionally, Kymera’s absence of severe hematological side effects, such as thrombocytopenia and neutropenia, positions its degrader approach favorably against traditional MDM2 inhibitors.

From an efficacy standpoint, Fein’s optimism is further supported by the observed partial response in a patient with advanced Merkel cell carcinoma after multiple treatment lines, which could indicate the potential for sustained treatment benefits with KT-253. Moreover, the comparison to Navtemadlin, another MDM2 inhibitor, shows the importance of prolonged treatment for achieving complete metabolic remission in some cases. This, coupled with Kymera’s promising safety profile, provides a strong basis for the Buy rating, suggesting that Kymera’s approach could offer a significant therapeutic advantage in the treatment of cancers with MDM2 involvement.

According to TipRanks, Fein is a 5-star analyst with an average return of 12.5% and a 46.82% success rate. Fein covers the Healthcare sector, focusing on stocks such as Blueprint Medicines, Foghorn Therapeutics, and Amylyx Pharmaceuticals Inc.

In another report released on April 22, Oppenheimer also initiated coverage with a Buy rating on the stock with a $53.00 price target.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

Kymera Therapeutics (KYMR) Company Description:

Kymera Therapeutics Inc is a biotechnology company pioneering a transformative new approach to treating previously untreatable diseases. The company is advancing the field of targeted protein degradation, accessing the body’s innate protein recycling machinery to degrade dysregulated, disease-causing proteins. Kymera’s Pegasus targeted protein degradation platform harnesses the body’s natural protein recycling machinery to degrade disease-causing proteins, with a focus on un-drugged nodes in validated pathways currently inaccessible with conventional therapeutics. It is accelerating drug discovery with an unmatched ability to target and degrade the intractable of proteins, and advance new treatment options for patients.