Cantor Fitzgerald analyst Elemer Piros initiated coverage with a Buy rating on Krystal Biotech Inc (NASDAQ: KRYS) today and set a price target of $28. The company’s shares opened today at $18.94, close to its 52-week high of $20.00.
Piros wrote:
“We are initiating coverage on Overweight rating and 12-month price target of $28. Krystal is developing off-the-shelf dermatological gene therapy treatments for severe monogenic diseases, with plans to expand into general skin defects and chronic skin conditions (2019 onwards). Based on encouraging preclinical data and a differentiated approach (with potential advantages) we believe Krystal is well positioned ahead of interim clinical data in 4Q18.”
According to TipRanks.com, Piros has currently no stars on a ranking scale of 0-5 stars, with an average return of -5.9% and a 43.1% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
Currently, the analyst consensus on Krystal Biotech Inc is a Strong Buy with an average price target of $36.50.
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The company has a one-year high of $20.00 and a one-year low of $8.03. Currently, Krystal Biotech Inc has an average volume of 41.85K.
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Krystal Biotech, Inc. is a gene therapy company, which engages in developing and commercializing treatment for patients suffering from dermatological diseases. It developed a gene therapy platform, which company refer to as the Skin TARgeted Delivery platform, or STAR-D platform, that consists of a patent pending engineered viral vector based on herpes simplex virus 1, or HSV-1, and skin-optimized gene transfer technology, to develop off-the-shelf treatments for dermatological diseases for which company believe there are no known effective treatments. The company was founded by Suma M. Krishnan in December 2017and is headquartered in Pittsburgh, PA.
