Krystal Biotech (NASDAQ:KRYS) Upgraded by Royal Bank Of Canada to Moderate Buy Rating

Royal Bank Of Canada upgraded shares of Krystal Biotech (NASDAQ:KRYS) to a moderate buy rating in a report released on Friday,Zacks.com reports.

Several other research analysts also recently issued reports on the stock. Chardan Capital upgraded shares of Krystal Biotech to a “strong-buy” rating in a report on Monday, August 3rd. Evercore reiterated an “outperform” rating and issued a $300.00 target price on shares of Krystal Biotech in a research note on Tuesday, May 5th. Jefferies Financial Group reissued a “buy” rating and set a $474.00 target price on shares of Krystal Biotech in a research report on Monday, July 13th. Citigroup boosted their price target on Krystal Biotech from $378.00 to $386.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Bank of America upped their price target on Krystal Biotech from $364.00 to $396.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $365.40.

Krystal Biotech Trading Up 1.2%

Shares of Krystal Biotech stock opened at $332.27 on Friday. Krystal Biotech has a 1 year low of $136.73 and a 1 year high of $382.54. The company’s fifty day simple moving average is $344.39 and its 200-day simple moving average is $299.25. The company has a market cap of $9.83 billion, a price-to-earnings ratio of 41.64 and a beta of 0.53.

Krystal Biotech (NASDAQ:KRYS) last released its earnings results on Monday, August 3rd. The company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.70 by $0.09. Krystal Biotech had a net margin of 54.82% and a return on equity of 19.34%. The firm had revenue of $119.22 million during the quarter, compared to analysts’ expectations of $120.93 million. As a group, research analysts forecast that Krystal Biotech will post 7.68 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Suma Krishnan sold 25,000 shares of the stock in a transaction 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 in the company, valued at approximately $424,623,337.05. This represents a 1.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the director directly owned 50,000 shares of the company’s stock, valued at $16,456,000. The trade was a 33.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 51,642 shares of company stock worth $16,471,923. 13.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KRYS. Freestone Grove Partners LP acquired a new stake in Krystal Biotech during the second quarter valued at approximately $342,000. Odyssean LLC bought a new stake in shares of Krystal Biotech in the 2nd quarter valued at approximately $3,475,000. Jupiter Topco LLC acquired a new position in shares of Krystal Biotech in the 2nd quarter worth approximately $95,387,000. Elmind Capital LP acquired a new position in shares of Krystal Biotech in the 2nd quarter worth approximately $8,176,740,000. Finally, ADAR1 Capital Management LLC bought a new position in shares of Krystal Biotech during the 2nd quarter worth approximately $6,103,000. 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.