Bank of America Raises Krystal Biotech (NASDAQ:KRYS) Price Target to $396.00

Key Points

• Bank of America raised its price target on Krystal Biotech from $364 to $396 and kept a buy rating on the stock, implying about 14.5% upside from the prior close.
• Krystal Biotech has seen mixed analyst activity overall, with several firms lifting targets while others trimmed ratings; the stock currently carries a Moderate Buy consensus and an average target price of $360.67.
• The company recently beat quarterly expectations, posting $1.83 EPS on $116.36 million in revenue, while shares traded lower on Tuesday to $345.80 after the news.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) had its target price increased by research analysts at Bank of America from $364.00 to $396.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's target price points to a potential upside of 14.52% from the stock's previous close.

KRYS has been the subject of a number of other research reports. TD Cowen lifted their target price on shares of Krystal Biotech from $306.00 to $403.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. Weiss Ratings lowered Krystal Biotech from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, July 1st. Wall Street Zen cut Krystal Biotech from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Citigroup boosted their price objective on Krystal Biotech from $371.00 to $378.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Finally, HC Wainwright increased their target price on Krystal Biotech from $310.00 to $361.00 and gave the stock a "buy" rating in a report on Tuesday, June 16th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $360.67.

Krystal Biotech Price Performance

Shares of KRYS traded down $17.64 during trading hours on Tuesday, hitting $345.80. The stock had a trading volume of 121,762 shares, compared to its average volume of 304,828. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of 45.83 and a beta of 0.50. The company's fifty day moving average is $327.17 and its two-hundred day moving average is $287.07. Krystal Biotech has a 52 week low of $130.50 and a 52 week high of $382.54.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $1.83 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.38. The firm had revenue of $116.36 million for the quarter, compared to analyst estimates of $112.11 million. Krystal Biotech had a net margin of 53.92% and a return on equity of 19.25%. Equities analysts predict that Krystal Biotech will post 7.66 EPS for the current fiscal year.

Insider Activity at Krystal Biotech

In other news, insider Suma Krishnan sold 25,000 shares of Krystal Biotech stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $308.11, for a total value of $7,702,750.00. Following the completion of the sale, the insider directly owned 1,378,155 shares of the company's stock, valued at approximately $424,623,337.05. This trade represents a 1.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Charles Thomas sold 1,000 shares of the business's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $347.27, for a total value of $347,270.00. Following the sale, the executive vice president owned 1,000 shares of the company's stock, valued at approximately $347,270. The trade was a 50.00% 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. Insiders sold a total of 26,642 shares of company stock valued at $8,243,923 in the last 90 days. 13.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Krystal Biotech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Krystal Biotech by 145.2% in the 1st quarter. Royal Bank of Canada now owns 1,628 shares of the company's stock valued at $294,000 after purchasing an additional 964 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Krystal Biotech by 29.9% in the first quarter. AQR Capital Management LLC now owns 12,131 shares of the company's stock valued at $2,187,000 after buying an additional 2,792 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Krystal Biotech by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,893 shares of the company's stock valued at $2,870,000 after acquiring an additional 688 shares during the last quarter. Empowered Funds LLC bought a new position in Krystal Biotech in the first quarter valued at approximately $218,000. Finally, Cetera Investment Advisers boosted its stake in Krystal Biotech by 107.9% in the second quarter. Cetera Investment Advisers now owns 4,344 shares of the company's stock valued at $597,000 after acquiring an additional 2,255 shares during the last quarter. 86.29% of the stock is currently owned by institutional investors and hedge funds.

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.

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