- Jefferies has initiated Kymera Therapeutics ( NASDAQ: KYMR ) as a buy citing the company's platform and targeted protein degredation molecules in the development of treatments for oncology and autoimmune conditions.
- The firm has a $40 price target (~18% upside based on Friday's close).
- Analyst Kelly Shi highlighted Kymera's ( KYMR ) proprietary E3-ligase matching platform. The company's pipeline targets the protein kinases' IRAK4, IRAKIMiD, and STAT3.
- Shi noted that the company's Pegasus platform "could match diverse E3-ligases to disease-protein to design bi-functional targeted protein degradation molecules. an emerging modality to open unprecedented opportunity for drug discovery."
- Kymera's ( KYMR ) most advanced program, KT-474, is in phase 1 in partnership with Sanofi ( SNY ) for several inflammatory and autoimmune diseases, including atopic dermatitis ( AD ), hidradenitis suppurativa ("HS"), and rheumatoid arthritis. It targets IRAK4.
- At this time, Shi is modeling a 30% probability of success for KT-474 and a $10/share value in HS, and a 20% probability of success and $10/share for AD.
- Seeking Alpha's Quant Rating views Kymera ( KYMR ) as a buy with high grades for momentum and growth .
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Kymera initiated at buy at Jefferies on promise in oncology, autoimmune spaces