Kymera Therapeutics (NASDAQ:KYMR) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Kymera Therapeutics (NASDAQ:KYMR) announced its earnings results on Thursday. The company reported ($0.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.01, Briefing.com reports. Kymera Therapeutics had a negative net margin of 178.27% and a negative return on equity of 28.88%. The company had revenue of $3.74 million for the quarter, compared to the consensus estimate of $10.34 million. During the same period in the previous year, the business earned ($0.90) EPS. The company’s revenue was down 20.9% on a year-over-year basis.

Kymera Therapeutics Stock Performance

Kymera Therapeutics stock opened at $46.47 on Friday. Kymera Therapeutics has a 52 week low of $9.60 and a 52 week high of $53.27. The firm has a market capitalization of $2.87 billion, a PE ratio of -19.20 and a beta of 2.21. The business’s 50-day simple moving average is $47.04 and its 200-day simple moving average is $40.65.

Wall Street Analysts Forecast Growth

KYMR has been the topic of several research reports. B. Riley upped their price objective on shares of Kymera Therapeutics from $31.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Morgan Stanley raised their price objective on shares of Kymera Therapeutics from $34.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Leerink Partnrs raised shares of Kymera Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Wolfe Research upgraded shares of Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Monday, August 26th. Finally, Wells Fargo & Company upped their price objective on shares of Kymera Therapeutics from $30.00 to $38.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.15.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, Director Jeffrey W. Albers sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.10, for a total value of $245,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jeffrey W. Albers sold 5,000 shares of Kymera Therapeutics stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.10, for a total transaction of $245,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Pamela Esposito sold 13,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $48.28, for a total transaction of $651,780.00. The disclosure for this sale can be found here. 15.82% of the stock is owned by corporate insiders.

About Kymera Therapeutics

Kymera Therapeutics, Inc, a biopharmaceutical company, focuses on discovering and developing novel small molecule therapeutics that selectively degrade disease-causing proteins by harnessing the body's own natural protein degradation system. It engages in developing IRAK4 program, which is in Phase II clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis; STAT3 program for the treatment of hematologic malignancies and solid tumors, as well as autoimmune diseases and fibrosis; and MDM2 program to treat hematological malignancies and solid tumors.