Wolfe Research Initiates Coverage on Krystal Biotech (NASDAQ:KRYS)

Key Points

• Wolfe Research initiated coverage on Krystal Biotech with a "peer perform" rating; the stock's consensus from analysts is a "Moderate Buy" (8 Buys, 3 Holds) with an average price target of $326.25.
• Krystal recently beat quarterly estimates with EPS $1.70 and revenue $107.1M, showing a 52.6% net margin; the company has a market cap of $7.35B and a trailing PE of 36.7, while analysts forecast ~6.14 EPS for the fiscal year.
• Insiders have sold 129,164 shares (~$34.5M) over the past 90 days (insiders own 13.7%), while institutional investors own ~86.3%; Krystal is a gene‑therapy company whose lead candidate is KB103 for dystrophic epidermolysis bullosa.

Equities researchers at Wolfe Research assumed coverage on shares of Krystal Biotech (NASDAQ:KRYS - Get Free Report) in a report issued on Friday,Benzinga reports. The brokerage set a "peer perform" rating on the stock.

Several other equities research analysts have also issued reports on KRYS. Weiss Ratings lowered Krystal Biotech from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Zacks Research lowered Krystal Biotech from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 5th. TD Cowen restated a "buy" rating on shares of Krystal Biotech in a research note on Friday, January 9th. Chardan Capital lifted their target price on Krystal Biotech from $220.00 to $323.00 and gave the company a "buy" rating in a report on Wednesday, February 18th. Finally, Bank of America increased their price target on shares of Krystal Biotech from $288.00 to $318.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $326.25.

Krystal Biotech Stock Down 1.4%

Shares of NASDAQ KRYS opened at $251.40 on Friday. The company has a market capitalization of $7.35 billion, a PE ratio of 36.70 and a beta of 0.49. The stock's 50 day moving average price is $268.13 and its 200-day moving average price is $228.50. Krystal Biotech has a twelve month low of $122.80 and a twelve month high of $298.30.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The company reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.08. The company had revenue of $107.11 million during the quarter, compared to the consensus estimate of $105.30 million. Krystal Biotech had a return on equity of 18.69% and a net margin of 52.64%. As a group, research analysts expect that Krystal Biotech will post 6.14 EPS for the current fiscal year.

Insider Activity at Krystal Biotech

In related news, CAO Kathryn Romano sold 12,500 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $272.14, for a total value of $3,401,750.00. Following the transaction, the chief accounting officer owned 19,318 shares of the company's stock, valued at $5,257,200.52. This represents a 39.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Janney sold 37,895 shares of the firm's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $266.88, for a total value of $10,113,417.60. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 129,164 shares of company stock valued at $34,538,578 over the last ninety days. 13.70% of the stock is currently owned by insiders.

Institutional Trading of Krystal Biotech

Several hedge funds and other institutional investors have recently bought and sold shares of KRYS. Soleus Capital Management L.P. raised 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 worth $126,870,000 after acquiring an additional 481,200 shares in the last quarter. Braidwell LP boosted its stake in shares of Krystal Biotech by 81.6% in the 2nd quarter. Braidwell LP now owns 727,811 shares of the company's stock valued at $100,045,000 after purchasing an additional 327,067 shares in the last quarter. Norges Bank purchased a new stake in shares of Krystal Biotech in the 4th quarter valued at $70,159,000. William Blair Investment Management LLC grew its holdings in shares of Krystal Biotech by 152.1% during the 4th quarter. William Blair Investment Management LLC now owns 376,340 shares of the company's stock valued at $92,783,000 after purchasing an additional 227,038 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Krystal Biotech by 2,078.9% during the 4th quarter. Janus Henderson Group PLC now owns 219,440 shares of the company's stock valued at $54,147,000 after purchasing an additional 209,369 shares during the last quarter. Hedge funds and other institutional investors own 86.29% of the company's stock.

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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