** Shares of drug developer Kymera Therapeutics KYMR.O rise 3.41% premarket, after gaining ~45% in previous session
** Company said on Monday its experimental oral drug effectively reduced STAT6 levels in blood and skin during an early-stage trial
** The drug, KT-621, is designed to target STAT6, a key signaling protein involved in immune response
** Brokerages, including BofA Global Research and Morgan Stanley, upgrade rating on stock to "buy" equivalent
** "The data increases our confidence in KT-621's ability to compete across large I&I (immunology and inflammation) indications, and in Kymera's platform more broadly" - Morgan Stanley
** All 20 brokerages covering the stock have rating "buy" or higher; median PT is $60 - data compiled by LSEG
** Through Monday, KYMR shares up ~7% so far this year
(Reporting by Joel Jose in Bengaluru)
((mailto: joeljose@thomsonreuters.com;))
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