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Now is the time to buy biotech company Kymera as shares could jump more than 75% from here, according to Goldman Sachs.

"We see Kymera as uniquely positioned as a leading player in the emerging field of targeted protein degradation (TPD) and look for the company to advance multiple pipeline assets as novel first-in-class small molecule therapeutics addressing a range of serious diseases," he wrote. Shibutani said the market is "taking an overly pessimistic view" of the potential for Kymera's KT-474 drug, which is being developed to potentially treat a slew of immunologic diseases such as atopic dermatitis. Now is the time to buy biotech company Kymera Therapeutics , as shares could jump more than 75% from here, Goldman Sachs said.