BUZZ-Citigroup starts coverage of Kymera with $52 PT
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Citigroup has initiated coverage of Kymera Therapeuticswith a "buy/high risk" rating and a price target of $52, indicating a potential upside of approximately 48%. The brokerage highlights Kymera's innovative protein degradation technology for treating inflammatory diseases. Notably, the drug KT-621 shows promising preclinical results, potentially rivaling Dupixent, while KT-474 has demonstrated significant symptom reduction in clinical trials. Citigroup projects Kymera's revenue could reach $1 billion by 2032, with substantial sales increases positively impacting stock value. Kymera's shares surged 58.7% in 2024.
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