The Goldman Sachs Group Upgrades Krystal Biotech (NASDAQ:KRYS) to Strong-Buy

Key Points

• Goldman Sachs upgraded Krystal Biotech to “strong buy,” adding to an analyst consensus that remains bullish, with an average rating of “buy” and a $377.20 target price.
• Krystal reported quarterly EPS of $1.79, beating estimates of $1.70, while revenue of $119.22 million came in slightly below the $120.93 million consensus estimate.
• KRYS opened at $344.96, giving the company a market capitalization of approximately $10.21 billion; institutional investors own 86.29% of shares, while two insiders recently sold stock under disclosed transactions.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) was upgraded by stock analysts at The Goldman Sachs Group to a "strong-buy" rating in a note issued to investors on Thursday, Zacks reports.

A number of other equities analysts have also commented on the stock. TD Cowen increased their price target on shares of Krystal Biotech from $306.00 to $403.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. Royal Bank Of Canada assumed coverage on shares of Krystal Biotech in a report on Friday, August 14th. They set an "outperform" rating and a $400.00 price objective for the company. Citigroup raised their price target on Krystal Biotech from $378.00 to $386.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Wall Street Zen lowered Krystal Biotech from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, HC Wainwright increased their price objective on Krystal Biotech from $310.00 to $361.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $377.20.

Krystal Biotech Stock Performance

NASDAQ:KRYS opened at $344.96 on Thursday. The firm has a market capitalization of $10.21 billion, a price-to-earnings ratio of 43.23 and a beta of 0.54. The stock has a fifty day moving average of $343.58 and a 200 day moving average of $314.97. Krystal Biotech has a 52-week low of $158.08 and a 52-week high of $382.54.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.09. The firm 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%. Equities analysts forecast that Krystal Biotech will post 7.48 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Dino Rossi sold 25,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $329.12, for a total transaction of $8,228,000.00. Following the completion of the sale, the director directly owned 50,000 shares in the company, valued at approximately $16,456,000. This represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Suma Krishnan sold 25,000 shares of the company's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $359.32, for a total value of $8,983,000.00. Following the transaction, the insider owned 1,302,145 shares of the company's stock, valued at approximately $467,886,741.40. This represents a 1.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 13.10% of the company's stock.

Institutional Trading of Krystal Biotech

Several large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Krystal Biotech during the 2nd quarter valued at $1,554,113,000. William Blair Investment Management LLC bought a new position in Krystal Biotech in the 2nd quarter worth approximately $211,909,000. Norges Bank purchased a new stake in shares of Krystal Biotech in the fourth quarter worth about $70,159,000. Jupiter Topco LLC purchased a new stake in Krystal Biotech in the 2nd quarter worth about $95,387,000. Finally, Bank of America Corp DE bought a new position in shares of Krystal Biotech in the second quarter worth about $95,308,000. 86.29% of the stock is owned by institutional investors.

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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