Kymera Therapeutics, Inc. saw its stock downgraded by Wolfe Research on January 6. The firm moved its rating from Outperform to Peer Perform and eliminated a previous $92 price target for the company's shares.
In a research note to investors, Wolfe Research described the stock as 'a poor investment in 2026,' pointing to a lack of catalysts for upside and investor concerns about valuation. Despite this, the firm's analyst still views Kymera Therapeutics as a good long-term investment.
On the same day, BTIG reaffirmed its Buy rating on the stock, setting a share price target of $138. Citigroup had also maintained its Buy rating with a $110 price target on January 5.
Kymera Therapeutics shares have increased by more than 28% over the last three months. As of the close on January 12, Wall Street expects the stock to rise nearly 60% further.
In December, the company announced it received Fast Track designation from the FDA for its KT-621 oral STAT6 degrader to treat atopic dermatitis. This followed promising results from the BroADen Phase 1b clinical trial, which showed potential for treating various Type 2 inflammatory diseases with once-daily dosing.
Kymera Therapeutics, Inc. is a biopharmaceutical company focused on developing protein degradation therapies.