Kymera Therapeutics (KYMR) PT Raised to $125 at Oppenheimer

Oppenheimer analyst Jeff Jones raised the price target on Kymera Therapeutics (NASDAQ: KYMR) to $125.00 (from $120.00) while maintaining a Outperform rating.

The analyst commented: "On Wednesday, KYMR reported 2Q26 results (press release, slides) and provided a business update. As previously reported, the Phase 2 readout for STAT-6 targeting KT-621 in AD has been pulled forward substantially, with results now anticipated before year-end. These remain the key focus with results anticipated to confirm the clinical profile for '621 and opening the door to multiple dermatological indications. It does not appear this acceleration will immediately translate to the BREADTH asthma trial, with management noting a more restrictive set of enrollment criteria and a smaller population overall.

2Q26 ending cash was $1.5B, and is anticipated by management to be sufficient to support operations into 2029. We update our model for actuals and pull forward revenues for KT-621, increasing our PT to $125 from $120."

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