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

Krystal Biotech (NASDAQ:KRYS) had its price target upped by analysts at Bank of America from $364.00 to $396.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 14.52% from the company’s current price.

KRYS has been the topic of a number of other reports. Wolfe Research began coverage on shares of Krystal Biotech in a research report on Friday, March 27th. They issued a “peer perform” rating on the stock. Weiss Ratings lowered shares of Krystal Biotech from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Citigroup boosted their price objective on shares of Krystal Biotech from $371.00 to $378.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. TD Cowen increased their target price on shares of Krystal Biotech from $306.00 to $403.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Finally, Wall Street Zen cut shares of Krystal Biotech from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Krystal Biotech Stock Down 4.9%

NASDAQ KRYS traded down $17.64 on Tuesday, reaching $345.80. The company had a trading volume of 121,762 shares, compared to its average volume of 304,828. The stock’s 50 day moving average is $327.17 and its 200-day moving average is $287.07. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 45.83 and a beta of 0.50. Krystal Biotech has a 52 week low of $130.50 and a 52 week high of $382.54.

Krystal Biotech (NASDAQ:KRYS) last issued its earnings results on Monday, May 4th. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.38. The firm had revenue of $116.36 million for the quarter, compared to analysts’ expectations of $112.11 million. Krystal Biotech had a return on equity of 19.25% and a net margin of 53.92%. As a group, analysts forecast that Krystal Biotech will post 7.66 EPS for the current year.

Insider Transactions at Krystal Biotech

In other news, EVP John Charles Thomas sold 1,000 shares of Krystal Biotech stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $347.27, for a total transaction of $347,270.00. Following the transaction, the executive vice president owned 1,000 shares in the company, valued at $347,270. The trade was a 50.00% decrease in their position. The transaction 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, insider Suma Krishnan sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $308.11, for a total value of $7,702,750.00. Following the completion of the transaction, the insider owned 1,378,155 shares of the company’s stock, valued at $424,623,337.05. This represents a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 26,642 shares of company stock worth $8,243,923. 13.10% of the stock is currently owned by insiders.

Institutional Trading of Krystal Biotech

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its stake in Krystal Biotech by 145.2% in the first quarter. Royal Bank of Canada now owns 1,628 shares of the company’s stock valued at $294,000 after buying an additional 964 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of 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. increased its position in shares of Krystal Biotech by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,893 shares of the company’s stock worth $2,870,000 after acquiring an additional 688 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Krystal Biotech during the first quarter worth $218,000. Finally, Cetera Investment Advisers raised its holdings in shares of Krystal Biotech by 107.9% during the second quarter. Cetera Investment Advisers now owns 4,344 shares of the company’s stock worth $597,000 after acquiring an additional 2,255 shares during the period. 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.