Kymera Therapeutics Inc Dossier
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SectorHealth Care IndustryBiotechnology Beta (adjusted)1.62 Intrinsic Value $51.27median of 2 methodsbased on filings through 30 Jun 2026 Market Price $110.12Price as of 1 Oct 2026 Significantly overvaluedIntrinsic value is 53% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% marker beyond scale (-53%) Data confidence Sign in to view data confidence Market Cap $9.1B Enterprise Value $8.9B Shares Outstanding 82.3M diluted Next Earnings Date3 Nov 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Kymera offers substantial clinical upside through KT-621, a first-in-class oral STAT6 degrader that showed deep target degradation, biomarker reductions, clinical improvement and favorable tolerability in Phase 1b atopic-dermatitis testing. The pivotal near-term event is the BROADEN2 Phase 2b readout expected by year-end 2026, followed by a potential Phase 3 start by mid-2027. KT-579 and the partnered IRAK4 and CDK2 programs provide additional optionality, but the investment case remains highly dependent on unvalidated Phase 2 efficacy and safety. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$111.00 Mean target$130.91 High · most bullish analyst$155.00 Street targets sit above today's price; our intrinsic value sits below it. Different horizons, different questions. Our research · scenarios, merits, risks, and invalidation triggersResearch as of 2 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $111.0018% BROADEN2 fails its primary endpoint, produces materially weaker activity than the Phase 1b signal, or reveals tolerability limitations that impair chronic use. Phase 3 is delayed and the earlier-stage pipeline does not offset the resulting loss of confidence in KT-621. Base CaseCentral scenario $130.9157% Matches the consensus meanBROADEN2 provides sufficient efficacy and safety evidence to advance KT-621 into Phase 3 by mid-2027, but differentiation from established biologics remains to be proven in larger and longer studies. KT-579 produces acceptable Phase 1 data and advances to a lupus proof-of-concept study. Bull CaseUpside scenario $155.0025% BROADEN2 reproduces the favorable clinical activity and tolerability seen in Phase 1b, supporting a competitive oral treatment profile and timely Phase 3 initiation. Positive KT-579 Phase 1 results add independent validation of Kymera's degrader platform and broaden the clinical opportunity. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |