Krystal Biotech (NASDAQ:KRYS) Price Target Raised to $400.00

Krystal Biotech (NASDAQ:KRYS) had its target price hoisted by Bank of America from $392.00 to $400.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Krystal Biotech from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Chardan Capital upgraded shares of Krystal Biotech to a “strong-buy” rating in a research report on Monday, August 3rd. TD Cowen upped their target price on shares of Krystal Biotech from $306.00 to $403.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Jefferies Financial Group reissued a “buy” rating and issued a $474.00 target price on shares of Krystal Biotech in a research note on Monday, July 13th. Finally, HC Wainwright raised their price target on Krystal Biotech from $310.00 to $361.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Krystal Biotech currently has a consensus rating of “Moderate Buy” and an average price target of $365.80.

Krystal Biotech Stock Performance

NASDAQ:KRYS opened at $341.75 on Monday. Krystal Biotech has a 52-week low of $158.08 and a 52-week high of $382.54. The stock has a fifty day moving average of $343.51 and a 200 day moving average of $314.33. The firm has a market capitalization of $10.12 billion, a price-to-earnings ratio of 42.83 and a beta of 0.54.

Krystal Biotech (NASDAQ:KRYS) last released its quarterly earnings results on Monday, August 3rd. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.09. The firm had revenue of $119.22 million for the quarter, compared to analysts’ expectations of $120.93 million. Krystal Biotech had a return on equity of 19.34% and a net margin of 54.82%. Equities analysts forecast that Krystal Biotech will post 7.48 earnings per share for the current fiscal year.

Insider Transactions at Krystal Biotech

In other news, insider Suma Krishnan sold 25,000 shares of Krystal Biotech stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $359.32, for a total value of $8,983,000.00. Following the transaction, the insider owned 1,302,145 shares in the company, valued at approximately $467,886,741.40. The trade was a 1.88% decrease in their ownership of the stock. 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, Director Dino Rossi sold 25,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $329.12, for a total value of $8,228,000.00. Following the completion of the sale, the director directly owned 50,000 shares of the company’s stock, valued at approximately $16,456,000. This trade represents a 33.33% decrease in their position. The disclosure for this sale is available in the SEC filing. 13.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Krystal Biotech

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Krystal Biotech during the second quarter valued at approximately $1,554,113,000. William Blair Investment Management LLC purchased a new position in shares of Krystal Biotech in the second quarter worth $211,909,000. Norges Bank purchased a new position in shares of Krystal Biotech in the fourth quarter worth $70,159,000. Jupiter Topco LLC bought a new stake in Krystal Biotech during the 2nd quarter valued at $95,387,000. Finally, Bank of America Corp DE bought a new stake in Krystal Biotech during the 2nd quarter valued at $95,308,000. 86.29% of the stock is owned by hedge funds and other institutional investors.

Krystal Biotech Company Profile

Krystal Biotech, Inc is a biotechnology company focused on developing and commercializing genetic medicines for rare diseases. The company uses engineered herpes simplex virus type 1 (HSV-1) vectors to deliver functional genes to targeted tissues, with an emphasis on treatments that can be administered directly to affected areas.

Krystal Biotech’s lead product is Vyjuvek (beremagene geperpavec-svdt), a topical gene therapy for wounds associated with dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and recurrent blistering.