Kymera Therapeutics, Inc. · KYMR · FY2026 Q2 · Calendar Q3 2026

Kymera advances KT-621 while broadening its immunology pipeline

The current analysis supports a constructive but conditional view: rapid KT-621 execution, pipeline diversification, partnership milestones and financial runway strengthen Kymera's development position, while clinical, competitive and regulatory risks remain material.

Reported Before market openNASDAQHealthcare $10.53B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $-0.62 Consensus $-0.71
EPS surprise +13.0% Reported versus consensus
Reported revenue $65.0M Consensus $32.8M
Revenue surprise +98.3% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +1.0% Event window
SPY move -0.2% Same window
Abnormal move +1.2% Stock minus SPY
Volume 1.0× Versus trailing sessions
Subsequent drift +12.5% Up to 20 sessions
KYMRSPY benchmark

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Why did KYMR rise 1.0% after beating EPS estimates in FY2026 Q2?What changed in KYMR's guidance and outlook in FY2026 Q2?Give me the bull and bear case for KYMR after FY2026 Q2 earnings.

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Transcript intelligence

What changed

Compared with the prior analysis, KT-621 AD enrollment finished six months early, moving top-line data to year-end 2026 and Phase III to mid-2027. KT-579 and Sanofi's KT-485 also progressed.

Guidance delta

Guidance sentiment remained maintained; no change was identified in the supplied analysis.

Key takeaways

  • KT-621 atopic-dermatitis Phase 2b enrollment finished six months early, with top-line data expected by year-end 2026.
  • KT-579 is slated for a Q4 2026 healthy-volunteer readout, while Sanofi's KT-485 program reached Phase I and generated a milestone.
  • Approximately $1.5 billion in cash and investments supports a runway into 2029, according to the analysis.

Management priorities

  • Advance KT-621 toward Phase III in atopic dermatitis and asthma.
  • Move KT-579 toward a lupus patient study after the healthy-volunteer readout.
  • Build commercial capabilities and continue advancing diversified degrader programs.

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Earnings History

Estimate Beat Miss Match
KYMR EPS earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q2 '24 estimate $-0.69 Q2 '24 actual $-0.58, beat Q3 '24 estimate $-0.83 Q3 '24 actual $-0.82, match Q2 '25 estimate $-0.83 Q2 '25 actual $-0.95, miss Q3 '25 estimate $-0.71 Q3 '25 actual $-0.90, miss Q4 '25 estimate $-0.78 Q4 '25 actual $-0.97, miss Q1 '26 estimate $-0.89 Q1 '26 actual $-0.71, beat Q2 '26 estimate $-0.71 Q2 '26 actual $-0.62, beat Q3 '26 estimate $-1.26 Q3 '26 actual $-1.32, miss Q4 '26 estimate $-1.29 Q1 '27 estimate $-1.35 Q2 '27 estimate $-1.43 Q3 '27 estimate $-1.40
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Analyst Consensus ?

ConsensusBuy27 ratings
Bullish2488.9%
Neutral311.1%
Bearish00.0%

Analyst 52W Price Targets

$126.63Current
$32Low
$109.4Average
$180High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 31, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Truist Securities Buy BuyMaintainOct 30, 2026
RBC Capital Sector Perform Sector PerformMaintainOct 30, 2026
BTIG Buy BuyMaintainOct 29, 2026
Morgan Stanley Overweight OverweightMaintainOct 27, 2026
Citigroup Buy BuyMaintainOct 5, 2026
Show 22 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $126.63. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
OppenheimerJeff Jones$140$122.6 +10.6%Oct 29, 2026
Loop Capital MarketsLeah Rush Cann$132$121.52 +4.2%Oct 29, 2026
Raymond JamesThomas Deal$140$109.3 +10.6%Oct 8, 2026
Piper SandlerBiren Amin$140$119.9 +10.6%Sep 23, 2026
Stifel NicolausAnalyst unavailable$152$117.67 +20.0%Sep 22, 2026
See 70 more

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Company context

Snapshot as of publication

Kymera Therapeutics, Inc. is a biopharmaceutical company dedicated to discovering and developing pioneering small molecule therapeutics. These treatments operate by harnessing the body's inherent protein degradation system to selectively eliminate disease-causing proteins. The company's pipeline features several programs, including the IRAK4 program, currently in Phase I clinical trials, which targets various immunology-inflammation disorders such as hidradenitis suppurativa, atopic dermatitis, macrophage activation syndrome, generalized pustular psoriasis, and rheumatoid arthritis. Additionally, Kymera is advancing its IRAKIMiD program, designed to address MYD88-mutated diffuse large B cell lymphoma. Other key programs include the STAT3 program, focused on hematological malignancies, solid tumors, autoimmune diseases, and fibrosis, as well as the MDM2 program, which is also aimed at hematological malignancies and solid tumors. The company was founded in 2015 and maintains its headquarters in Watertown, Massachusetts.

Historical context

All KYMR earnings
+0.1%FY2026 Q3 · Calendar Q4 2026

Healthcare peers this season

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BTSGU BrightSpring Health Services, Inc. Tangible Equity Unit FY2026 Q3 · Calendar Q4 2026 +14.2% +10.0% BrightSpring posts strong Q3 growth as pharmacy leads
REGN Regeneron Pharmaceuticals, Inc. FY2026 Q3 · Calendar Q4 2026 +21.6% +13.3% Regeneron posts strong Q3 growth as pipeline expands
BTSG BrightSpring Health Services, Inc. Common Stock FY2026 Q3 · Calendar Q4 2026 — +9.7% BrightSpring posts broad Q3 growth while IRA pressure persists
ABBV AbbVie Inc. FY2026 Q3 · Calendar Q4 2026 — +1.2% AbbVie Q3 2026: Guidance Raised as Immunology Drives Growth
EXEL Exelixis, Inc. FY2026 Q3 · Calendar Q4 2026 +6.0% +4.8% Exelixis highlights zanzalintinib pipeline after strong Q3
BBIO BridgeBio Pharma, Inc. FY2026 Q3 · Calendar Q4 2026 +22.5% +6.0% BridgeBio advances three launches while Attruby momentum holds

Latest beats and misses

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Missed on EPS

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Sources

  1. Earnings call transcript and parsed analysis · 2026-08-05T20:09:17.545388+00:00
  2. FN2 earnings calendar · 2026-09-10T01:23:13.706414+00:00
  3. Polygon adjusted daily market bars · 2026-10-31T05:00:40.637802+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-31T05:00:40.635018+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-31. For educational purposes only; not investment advice.