Bank of America Issues Positive Forecast for Krystal Biotech (NASDAQ:KRYS) Stock Price

Key Points

• Bank of America raised its price target for Krystal Biotech from $392 to $400 and maintained a “Buy” rating, implying roughly 20% upside from the stock’s $333.30 price.
• Analyst sentiment remains favorable, with Krystal carrying a “Moderate Buy” consensus rating and an average price target of $365.80; recent reports include multiple raised targets and a “Strong Buy” rating.
• Krystal exceeded quarterly EPS expectations, reporting $1.79 versus the $1.70 consensus, although revenue of $119.22 million fell slightly short of estimates. Insiders sold $17.6 million of stock over the past 90 days.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) had its target price upped by equities researchers at Bank of America from $392.00 to $400.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price objective indicates a potential upside of 20.01% from the company's current price.

KRYS has been the subject of a number of other research reports. Weiss Ratings downgraded Krystal Biotech from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 18th. Jefferies Financial Group reissued a "buy" rating and issued a $474.00 price target on shares of Krystal Biotech in a report on Monday, July 13th. HC Wainwright increased their price target on shares of Krystal Biotech from $310.00 to $361.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. Citigroup raised their price objective on shares of Krystal Biotech from $378.00 to $386.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Finally, Chardan Capital raised shares of Krystal Biotech to a "strong-buy" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Krystal Biotech currently has an average rating of "Moderate Buy" and an average target price of $365.80.

Krystal Biotech Stock Down 1.0%

KRYS stock traded down $3.38 during trading on Monday, reaching $333.30. The stock had a trading volume of 73,604 shares, compared to its average volume of 333,501. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 41.73 and a beta of 0.54. Krystal Biotech has a one year low of $158.08 and a one year high of $382.54. The company's 50 day moving average is $344.05 and its two-hundred day moving average is $312.66.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.09. The company had revenue of $119.22 million during the quarter, compared to the consensus estimate of $120.93 million. Krystal Biotech had a return on equity of 19.34% and a net margin of 54.82%. As a group, research analysts predict that Krystal Biotech will post 7.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Krystal Biotech

In other news, EVP John Thomas sold 1,000 shares of the company's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $347.27, for a total transaction of $347,270.00. Following the transaction, the executive vice president owned 1,000 shares of the company's stock, valued at $347,270. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dino Rossi sold 25,000 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $329.12, for a total value of $8,228,000.00. Following the transaction, the director owned 50,000 shares of the company's stock, valued at $16,456,000. The trade was a 33.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 51,000 shares of company stock worth $17,558,270 over the last ninety days. 13.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Krystal Biotech

Several large investors have recently modified their holdings of the business. Silvant Capital Management LLC purchased a new stake in shares of Krystal Biotech during the second quarter worth $30,000. Integrated Wealth Concepts LLC bought a new position in shares of Krystal Biotech in the second quarter worth approximately $46,000. Western Wealth Management LLC purchased a new stake in Krystal Biotech in the first quarter valued at approximately $34,000. USA Financial Formulas purchased a new stake in Krystal Biotech in the first quarter valued at approximately $44,000. Finally, Versant Capital Management Inc increased its holdings in shares of Krystal Biotech by 189.2% in the 2nd quarter. Versant Capital Management Inc now owns 214 shares of the company's stock worth $80,000 after buying an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 86.29% of the company's stock.

About Krystal Biotech

Krystal Biotech, Inc is a biotechnology company focused on developing and commercializing genetic medicines for rare diseases. The company uses engineered herpes simplex virus type 1 (HSV-1) vectors to deliver functional genes to targeted tissues, with an emphasis on treatments that can be administered directly to affected areas.

Krystal Biotech's lead product is Vyjuvek (beremagene geperpavec-svdt), a topical gene therapy for wounds associated with dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and recurrent blistering.

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