Kymera Therapeutics, Inc. (NASDAQ:KYMR) is one of the 11 Best Mid-cap Healthcare Stocks to Buy According to Hedge Funds. Morgan Stanley analyst Judah Frommer assumed coverage of the company’s stock with an “Overweight” rating and a price objective of $70, down from $79. The research firm mentioned that the company is developing oral small-molecule approaches to target immunological pathways, which are validated by biologics. As per the firm’s analyst, healthy volunteer data with KT-621 demonstrates a potential multi-blockbuster opportunity.
A biopharmaceutical laboratory with scientists in lab coats working on medicines.
Furthermore, the partnerships with Sanofi and Gilead tend to further validate Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s drug discovery and protein degradation capabilities, added the analyst. Sanofi informed the company that KT-485/SAR447971, which is an oral, highly potent and selective development candidate targeting IRAK4 for immuno-inflammatory diseases that Kymera Therapeutics, Inc. (NASDAQ:KYMR) discovered and characterized via preclinical studies, was selected to advance into the clinical studies. After the extensive preclinical work aiding strong development potential, KT-485 continues to be prioritized for development under the companies’ existing IRAK4 collaboration, and is projected to advance into Phase 1 testing next year.
Kymera Therapeutics, Inc. (NASDAQ:KYMR) saw collaboration revenues of $22.1 million for Q1 2025 as compared to $10.3 million for Q1 2024. Furthermore, the collaboration revenues were all attributable to its Sanofi collaboration.
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Disclosure: None. This article is originally published at Insider Monkey.