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Jefferies's Kelly Shi raised their price target on Kymera Therapeutics (NASDAQ: KYMR) by 67.1% from $73 to $122 on 2025/12/09. The analyst maintained their Strong Buy rating on the stock.

Kymera Therapeutics announced positive clinical results from the BroADen Phase 1b AD (Atopic Dermatitis) clinical trial of KT-621, its first-in-class, oral STAT6 degrader medicine, on 2025/12/08.

According to Shi, oral STAT6 degrader KT-621 produced "remarkable" first-in-patient AD results after healthy volunteer data in 2025/06 which itself exceeded expectations.

All key metrics, including STAT6 degradation, biomarker decrease, and clinical endpoints like EASI-50, are on par with or even better than Dupixent, strengthening the "oral Dupixent" potential, the analyst noted.