Bank of America Increases Krystal Biotech (NASDAQ:KRYS) Price Target to $318.00

Krystal Biotech (NASDAQ:KRYS) had its price target increased by research analysts at Bank of America from $288.00 to $318.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 9.91% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. TD Cowen restated a “buy” rating on shares of Krystal Biotech in a research report on Friday, January 9th. Citigroup boosted their price objective on shares of Krystal Biotech from $320.00 to $336.00 and gave the company a “buy” rating in a research report on Monday, January 12th. HC Wainwright reiterated a “buy” rating and issued a $310.00 price target (up previously from $240.00) on shares of Krystal Biotech in a research note on Friday, January 9th. Zacks Research upgraded Krystal Biotech from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. Finally, Guggenheim set a $224.00 target price on Krystal Biotech and gave the company a “buy” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $271.75.

Krystal Biotech Stock Up 1.2%

Shares of KRYS traded up $3.34 during mid-day trading on Thursday, hitting $289.34. 69,161 shares of the company’s stock were exchanged, compared to its average volume of 331,590. Krystal Biotech has a 52 week low of $122.80 and a 52 week high of $295.98. The stock’s 50-day simple moving average is $240.84 and its 200-day simple moving average is $190.61. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of 43.41 and a beta of 0.46.

Krystal Biotech (NASDAQ:KRYS) last posted its quarterly earnings data on Monday, November 3rd. The company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $1.54. The firm had revenue of $97.80 million for the quarter, compared to analyst estimates of $93.72 million. Krystal Biotech had a return on equity of 19.36% and a net margin of 53.30%. Analysts forecast that Krystal Biotech will post 6.14 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Suma Krishnan sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $220.16, for a total transaction of $5,504,000.00. Following the completion of the sale, the insider owned 1,413,711 shares in the company, valued at $311,242,613.76. The trade was a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.70% of the stock is owned by company insiders.

Institutional Trading of Krystal Biotech

Several hedge funds have recently added to or reduced their stakes in KRYS. Soleus Capital Management L.P. lifted its holdings in shares of Krystal Biotech by 108.9% during the 2nd quarter. Soleus Capital Management L.P. now owns 922,958 shares of the company’s stock worth $126,870,000 after acquiring an additional 481,200 shares during the last quarter. Braidwell LP lifted its stake in Krystal Biotech by 81.6% during the second quarter. Braidwell LP now owns 727,811 shares of the company’s stock worth $100,045,000 after purchasing an additional 327,067 shares during the last quarter. Norges Bank purchased a new position in shares of Krystal Biotech in the 2nd quarter worth about $38,861,000. First Trust Advisors LP boosted its holdings in shares of Krystal Biotech by 571.3% in the 2nd quarter. First Trust Advisors LP now owns 222,370 shares of the company’s stock worth $30,567,000 after purchasing an additional 189,245 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Krystal Biotech by 1,083.8% during the 3rd quarter. Millennium Management LLC now owns 148,713 shares of the company’s stock valued at $26,252,000 after purchasing an additional 136,151 shares during the last quarter. Institutional investors own 86.29% of the company’s stock.

Krystal Biotech Company Profile

Krystal Biotech, Inc is a clinical-stage biotechnology company focused on developing gene therapies for rare dermatological diseases. Headquartered in Pittsburgh, Pennsylvania, the company applies proprietary viral vector delivery technology to enable topical administration of corrective genes directly to the skin. By targeting the underlying genetic causes of inherited skin disorders, Krystal Biotech seeks to address areas of high unmet medical need with potentially transformative treatments.

The company’s lead product candidate, KB103, is designed to deliver a functional COL7A1 gene to patients with dystrophic epidermolysis bullosa (DEB), a severe and often debilitating blistering condition.