Krystal Biotech (NASDAQ:KRYS) Shares Gap Up After Analyst Upgrade

Key Points

• Krystal Biotech shares increased after Bank of America raised its price target from $182.00 to $255.00, resulting in the stock opening at $192.91.
• Currently, six analysts rate Krystal Biotech as a "Buy" while two have a "Hold" rating, with a consensus price target of $223.00.
• The company reported a quarterly EPS of $1.29, surpassing the consensus estimate of $1.08, and had revenue of $96.04 million compared to expectations of $95.42 million.

Krystal Biotech, Inc. (NASDAQ:KRYS - Get Free Report)'s share price gapped up before the market opened on Friday after Bank of America raised their price target on the stock from $182.00 to $255.00. The stock had previously closed at $188.33, but opened at $192.91. Bank of America currently has a buy rating on the stock. Krystal Biotech shares last traded at $188.73, with a volume of 52,855 shares traded.

KRYS has been the topic of several other research reports. HC Wainwright reaffirmed a "buy" rating and set a $240.00 price target on shares of Krystal Biotech in a research report on Monday, September 15th. Chardan Capital reduced their target price 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. Citigroup reaffirmed a "neutral" rating and issued a $166.00 price target (down previously from $176.00) on shares of Krystal Biotech in a research note on Tuesday, August 5th. Guggenheim set a $224.00 price objective on Krystal Biotech and gave the stock a "buy" rating in a research report on Friday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Krystal Biotech in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $223.00.

Institutional Trading of Krystal Biotech

Several hedge funds have recently modified their holdings of KRYS. Brooklyn Investment Group grew its stake in Krystal Biotech by 291.7% during the 1st quarter. Brooklyn Investment Group now owns 141 shares of the company's stock worth $25,000 after purchasing an additional 105 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Krystal Biotech by 8,950.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 181 shares of the company's stock valued at $25,000 after buying an additional 179 shares during the period. Twin Tree Management LP acquired a new position in shares of Krystal Biotech during the first quarter worth about $29,000. AdvisorNet Financial Inc purchased a new stake in shares of Krystal Biotech during the third quarter worth approximately $30,000. Finally, Fifth Third Bancorp increased its stake in shares of Krystal Biotech by 159.1% during the first quarter. Fifth Third Bancorp now owns 171 shares of the company's stock worth $31,000 after buying an additional 105 shares during the period. 86.29% of the stock is currently owned by institutional investors and hedge funds.

Krystal Biotech Stock Down 0.2%

The company's fifty day moving average is $159.67 and its two-hundred day moving average is $151.38. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 38.30 and a beta of 0.64.

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

Krystal Biotech Company Profile

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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