Sep. 16 at 12:53 PM
RBC Capital🏁
$KYMR Outperform/
$70.
RBC Capital said in its note: Initiating with an Outperform, Speculative Risk rating and
$70 price target as our analysis of lead drug KT-621's profile + KOL feedback provide confidence '621 will demonstrate compelling early PoC on EASI reductions and biomarkers for STAT6 degradation in their upcoming Ph.lb AD readout, and that a potential oral option with a dupilumab-like profile would see meaningful future commercial uptake.
We see a
$4.8B U.S. opportunity for KT-621 in AD and asthma alone, and find IRF5 and IRAK4 to be compelling pipeline targets potentially solidifying
$KYMR as a leader in the emerging I&I degrader space.
Despite some post-Ph.I appreciation, we see room for considerable additional stock upside potential.
$REGN $SNY $NRIX $JNJ