Kymera Therapeutics

KYMR · NASDAQ

$113.46+$5.39 (+4.99%)TodayMarket closed · Oct 20, 7:32 PM ET

Prev close $108.07

KYMR analyst rating

BuyConsensus of 26 analysts over the last 12 months. 92% rate it a buy.

Strong buy0
Buy24
Hold2
Underperform0
Sell0

12-month price target · 24 analysts

Average $141.34 (+24.6% upside)

Low: $112.11
Now: $113.46
High: $189.00

Upgrades and downgrades

The latest rating actions, newest first

KYMR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Raymond James	Oct 9, 2026	Initiates	Outperform	$140.00	33%
Citigroup	Oct 5, 2026	Maintains	Buy	$135.00 → $150.00	60%
Stifel	Sep 22, 2026	Maintains	Buy	$132.00 → $152.00	59%
B of A Securities	Sep 14, 2026	Maintains	Buy	$123.00 → $144.00	45%
Wolfe Research	Sep 10, 2026	Upgrade	Peer Perform → Outperform	—	47%
Guggenheim	Aug 31, 2026	Maintains	Buy	$135.00 → $170.00	46%
Wells Fargo	Aug 27, 2026	Maintains	Overweight	$116.00 → $151.00	54%
Barclays	Aug 6, 2026	Maintains	Overweight	$133.00 → $139.00	45%
Deutsche Bank	Jul 30, 2026	Initiates	Hold	$120.00	45%
Guggenheim	Jul 28, 2026	Maintains	Buy	$125.00 → $135.00	46%

The case for and against

Updated Oct 14, 2026

Bull case

Kymera Therapeutics is supported by accelerating KT-621 development, with atopic dermatitis Phase 2b top-line data now expected by year-end 2026 and Phase 3 initiation by mid-2027, which pulls commercialization earlier and signals strong execution. The company’s oral STAT6 degrader is viewed as differentiated because physicians appear enthusiastic about a safe oral alternative to injectable biologics, and management sees a broad opportunity to attract patients who have not yet moved to advanced systemic therapy. With cash runway expected into 2029, modeled 2026E/2027E/2028E revenues of $73M, ($13M), and ($25M), and a potential $3.5B peak sales profile, the risk-reward remains attractive.

Bear case

Kymera Therapeutics is a clinical-stage biotechnology company whose value depends heavily on a few unproven assets, particularly KT-621, KT-485, STAT6, and IRAK4, making the investment thesis highly exposed to trial execution and readout risk. The cited downside risks include disappointing efficacy, poor safety, enrollment delays in HS/AD, and the possibility that promising early data will not translate into later-stage clinical success, which is especially concerning in a crowded atopic dermatitis market. It also faces material financing and commercialization risk because ongoing R&D, regulatory, and manufacturing demands could strain capital resources, while pricing reform and broader competitive pressures may limit eventual returns.

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