Krystal Biotech (NASDAQ:KRYS) Stock Gets Price Target Reduction from TD Cowen

Krystal Biotech (NASDAQ:KRYS) had its price objective decreased by TD Cowen from $403.00 to $380.00 in a research report sent to investors on Tuesday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other research firms also recently commented on KRYS. Jefferies Financial Group reaffirmed a “buy” rating and issued a $474.00 price objective on shares of Krystal Biotech in a research note on Monday, July 13th. HC Wainwright reissued a “buy” rating and issued a $361.00 target price on shares of Krystal Biotech in a report on Thursday, October 15th. Zacks Research cut shares of Krystal Biotech from a “hold” rating to a “strong sell” rating in a research note on Friday, October 23rd. William Blair upgraded shares of Krystal Biotech to a “strong-buy” rating in a research note on Wednesday, September 23rd. Finally, The Goldman Sachs Group initiated coverage on shares of Krystal Biotech in a report on Thursday, September 24th. They set a “buy” rating and a $441.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $375.00.

Krystal Biotech Trading Down 3.4%

Shares of NASDAQ KRYS opened at $300.25 on Tuesday. Krystal Biotech has a 12-month low of $192.52 and a 12-month high of $382.54. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 42.18 and a beta of 0.56. The firm has a 50 day moving average of $333.61 and a 200 day moving average of $308.99.

Krystal Biotech (NASDAQ:KRYS) last issued its quarterly earnings results on Monday, November 2nd. The company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.26. Krystal Biotech had a net margin of 47.91% and a return on equity of 17.02%. The business had revenue of $127.34 million for the quarter, compared to analysts’ expectations of $125.77 million. Sell-side analysts predict that Krystal Biotech will post 7.74 EPS for the current year.

Insider Buying and Selling at Krystal Biotech

In other news, Director Dino A. Rossi sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $329.12, for a total transaction of $8,228,000.00. Following the completion of the transaction, the director owned 50,000 shares in the company, valued at $16,456,000. This trade represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Suma Krishnan sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were 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 of the company’s stock, valued at approximately $467,886,741.40. The trade was a 1.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Krystal Biotech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Krystal Biotech in the 2nd quarter valued at about $1,554,113,000. William Blair Investment Management LLC acquired a new position in Krystal Biotech in the second quarter valued at about $211,909,000. Jupiter Topco LLC purchased a new position in Krystal Biotech during the second quarter worth about $95,387,000. Bank of America Corp DE purchased a new position in Krystal Biotech during the second quarter worth about $95,308,000. Finally, Bank of New York Mellon Corp purchased a new position in Krystal Biotech during the second quarter worth about $60,809,000. 86.29% of the stock is owned by 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’s platform uses modified herpes simplex virus type 1 vectors to deliver functional genes to target tissues, with an emphasis on therapies that can be administered repeatedly.

Krystal’s lead product, VYJUVEK, is a topical gene therapy for wounds associated with dystrophic epidermolysis bullosa, a rare inherited skin disorder caused by mutations affecting type VII collagen.