Wells Fargo Downgrades Kymera Therapeutics (KYMR) to Equal Weight, 'Lack of Catalysts in 2024'

Wells Fargo analyst Derek Archila downgraded Kymera Therapeutics (NASDAQ: KYMR) from Overweight to Equal Weight with a price target of $26.00.

The analyst comments "We think the shift in strategy to I&I likely bodes poorly for KYMR's oncology pipeline, which are the only programs that have clinical data in 2024. We think this is pretty evident from KT-333's data update at ASH. Thus, we think it is more of a “wait-and-see” stock and would look to get more constructive closer to data for KT-474 from its partner Sanofi in early 2025. We rate the shares Equal Weight."

For an analyst ratings summary and ratings history on Kymera Therapeutics click here. For more ratings news on Kymera Therapeutics click here.

Shares of Kymera Therapeutics closed at $25.29 yesterday.

You May Also Be Interested In

• Gartner (IT) PT Lowered to $206 at BMO Capital, adjusting estimates
• Chardan Downgrades EyePoint Inc. (EYPT) to Neutral
• DeFi Technologies (DEFT) PT Lowered to $1 at Benchmark Following Q2 Miss