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 (NASDAQ:KRYS) from $182.00 to $255.00, indicating a potential upside of 35.40% from the current stock price and maintaining a "buy" rating.
• Analysts' consensus places the average price target for Krystal Biotech at $223.00, with six analysts giving a buy rating and two a hold rating.
• Krystal Biotech reported quarterly earnings of $1.29 per share, surpassing expectations, and recorded a 40.85% net margin for the period.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) had its price objective hoisted by equities researchers at Bank of America from $182.00 to $255.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price objective would suggest a potential upside of 35.40% from the stock's current price.

A number of other analysts have also recently issued reports on KRYS. Chardan Capital lowered their price objective on Krystal Biotech from $219.00 to $216.00 and set a "buy" rating on the stock in a research report on Friday, August 22nd. Weiss Ratings restated a "hold (c)" rating on shares of Krystal Biotech in a research report on Wednesday, October 8th. HC Wainwright reiterated a "buy" rating and issued a $240.00 price target on shares of Krystal Biotech in a research report on Monday, September 15th. Guggenheim set a $224.00 price target on Krystal Biotech and gave the company a "buy" rating in a research report on Friday. Finally, Citigroup reiterated a "neutral" rating and issued a $166.00 price target (down from $176.00) on shares of Krystal Biotech in a research report on Tuesday, August 5th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Krystal Biotech currently has an average rating of "Moderate Buy" and a consensus target price of $223.00.

Krystal Biotech Trading Down 2.4%

KRYS opened at $188.33 on Friday. The stock has a market cap of $5.45 billion, a PE ratio of 38.28 and a beta of 0.64. Krystal Biotech has a 1 year low of $122.80 and a 1 year high of $207.84. The stock's 50 day simple moving average is $159.67 and its 200-day simple moving average is $151.38.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.21. The business had revenue of $96.04 million for the quarter, compared to analysts' expectations of $95.42 million. Krystal Biotech had a return on equity of 15.21% and a net margin of 40.85%. Equities analysts forecast that Krystal Biotech will post 6.14 earnings per share for the current fiscal year.

Institutional Trading of Krystal Biotech

Several large investors have recently made changes to their positions in KRYS. Soleus Capital Management L.P. lifted its stake in shares of Krystal Biotech by 108.9% during the second quarter. Soleus Capital Management L.P. now owns 922,958 shares of the company's stock valued at $126,870,000 after acquiring an additional 481,200 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Krystal Biotech by 173.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 575,506 shares of the company's stock valued at $103,764,000 after acquiring an additional 365,304 shares during the period. Braidwell LP lifted its stake in shares of Krystal Biotech by 81.6% during the second quarter. Braidwell LP now owns 727,811 shares of the company's stock valued at $100,045,000 after acquiring an additional 327,067 shares during the period. Norges Bank acquired a new position in shares of Krystal Biotech during the second quarter valued at $38,861,000. Finally, Nuveen LLC acquired a new position in shares of Krystal Biotech during the first quarter valued at $42,223,000. Institutional investors own 86.29% of the company's stock.

About Krystal Biotech

Krystal Biotech, Inc, a commercial-stage biotechnology company, discovers, develops, and commercializes genetic medicines for patients with rare diseases in the United States. It commercializes VYJUVEK (beremagene geperpavec-svdt, or B-VEC) for the treatment of dystrophic epidermolysis bullosa (DEB).

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