Krystal Biotech (NASDAQ:KRYS) Releases Quarterly Earnings Results

Key Points

• Krystal Biotech beat earnings expectations, reporting quarterly EPS of $1.79 versus the $1.73 consensus estimate. Revenue totaled $119.22 million, slightly below analysts’ $121.81 million forecast.
• KRYS shares opened at $341.12, with a market capitalization of approximately $10.06 billion and a 52-week trading range of $130.50 to $382.54.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $360.67, although insiders sold roughly $8.24 million of shares over the past 90 days.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) issued its quarterly earnings data on Monday. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.06, FiscalAI reports. The company had revenue of $119.22 million for the quarter, compared to analyst estimates of $121.81 million. Krystal Biotech had a net margin of 53.92% and a return on equity of 19.25%.

Krystal Biotech Stock Performance

Shares of Krystal Biotech stock opened at $341.12 on Monday. Krystal Biotech has a 52-week low of $130.50 and a 52-week high of $382.54. The stock has a market cap of $10.06 billion, a PE ratio of 45.60 and a beta of 0.53. The firm has a 50-day moving average of $339.70 and a 200-day moving average of $296.45.

Analysts Set New Price Targets

Several analysts recently commented on KRYS shares. Citigroup lifted their target price on shares of Krystal Biotech from $371.00 to $378.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Jefferies Financial Group restated a "buy" rating and set a $474.00 price objective on shares of Krystal Biotech in a research report on Monday, July 13th. Wall Street Zen cut Krystal Biotech from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Evercore restated an "outperform" rating and set a $300.00 price objective on shares of Krystal Biotech in a report on Tuesday, May 5th. Finally, Bank of America upped their target price on Krystal Biotech from $364.00 to $396.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $360.67.

Insider Buying and Selling

In other Krystal Biotech news, insider Suma Krishnan sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $308.11, for a total transaction of $7,702,750.00. Following the transaction, the insider owned 1,378,155 shares in the company, valued at $424,623,337.05. This represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 Krystal Biotech stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $347.27, for a total transaction of $347,270.00. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 26,642 shares of company stock worth $8,243,923. Company insiders own 13.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KRYS. Greenline Wealth Management LLC bought a new stake in Krystal Biotech during the fourth quarter worth $34,000. Danske Bank A S acquired a new stake in Krystal Biotech during the 3rd quarter worth approximately $35,000. UMB Bank n.a. lifted its holdings in shares of Krystal Biotech by 34.6% during the fourth quarter. UMB Bank n.a. now owns 144 shares of the company's stock worth $36,000 after purchasing an additional 37 shares during the period. Global Retirement Partners LLC grew its position in shares of Krystal Biotech by 788.9% in the 4th quarter. Global Retirement Partners LLC now owns 160 shares of the company's stock valued at $39,000 after buying an additional 142 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in Krystal Biotech by 41.4% in the second quarter. Osaic Holdings Inc. now owns 393 shares of the company's stock valued at $54,000 after acquiring an additional 115 shares during the last quarter. 86.29% of the stock is owned by institutional investors.

About Krystal Biotech

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.