New Trade for June 7th, 2023

Despite being a relatively new industry, biotech has rapidly evolved into one of healthcare’s most innovative and important sub-sectors. Stocks from the group have been known to double or even triple in a very short period. 

While biotech stocks saw a dip earlier this year due to market uncertainties, it is once again regaining popularity as investors seek out growth opportunities. No doubt about it: it’s an exciting time to invest in biotech, and today we’re featuring a standout offering a compelling narrative for investors.

Analysts see the potential for a 3x increase over the next twelve months for this stock. Could this be the next biotech breakout? Only time will tell…

Kymera Therapeutics (KYMR)

Generally speaking, biotech stocks offer investors an excellent opportunity for significant upside success.   Grand View Research reports that the global market size for the industry was $1.02 trillion in 2021, and it is expected to grow at a compound annual growth rate (CAGR) of 13.9% from 2022 to 2030, reaching $3.88 trillion by the end of the forecasted period.

Kymera Therapeutics is a promising example of a biotech stock worth considering, with the market showing faith in its potential. KYMR’s share price has increased over 50% over the past twelve months. Moreover, the company enjoys a strong balance sheet, with a cash-to-debt ratio of 23.49 times and an equity-to-asset ratio of 0.81 times, outperforming most of its peers. The 18 analysts offering recommendations say to Buy KYMR, with none rating the stock as a Sell. An average price target of $46 suggests an 80% upside. At its high end, the twelve-month analyst forecast predicts a 368% share price increase to $93.