Morgan Stanley Rates Kymera Therapeutics (KYMR) Overweight

Morgan Stanley analyst Judah Frommer initiated coverage of Kymera Therapeutics, Inc. (KYMR) with an “Overweight” rating and a $70 price target, citing the company’s development of oral small-molecule approaches to target immunological pathways. Healthy volunteer data with KT-621 shows potential for a blockbuster opportunity.

Partnerships with Sanofi and Gilead validate Kymera’s drug discovery capabilities. Sanofi selected KT-485/SAR447971, a candidate targeting IRAK4 for immuno-inflammatory diseases, for clinical studies. Collaboration revenues for Q1 2025 were $22.1 million, up from $10.3 million in Q1 2024, all from the Sanofi collaboration.

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Read more at Yahoo Finance: Morgan Stanley Assumes Coverage of Kymera Therapeutics (KYMR) Stock with Overweight Rating