After Cowen & Co. and William Blair gave Krystal Biotech Inc (NASDAQ: KRYS) a Buy rating last month, the company received another Buy, this time from Chardan Capital. Analyst Gbola Amusa reiterated a Buy rating on Krystal Biotech Inc today and set a price target of $50. The company’s shares opened today at $23.27.
Amusa observed:
“We see continued execution on guidance as a positive for Krystal. Recall, after announcing positive early interim phase I/II data from 2 patients treated with KB103, the company announced it expects a planned pivotal study of the therapy to begin in 2H19. Results from the current phase II trial will be used to inform endpoints for the pivotal study. Per management, the planned pivotal trial is anticipated to enroll around 15 patients and to evaluate the patients for a period of 6-9 months. Also per management, we may expect data from the pivotal study in 2020, with a BLA filing anticipated in 1H20. In our 16 October research, we raised our PT and updated our POS estimate for the positive interim phase I data.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 13.9% and a 43.3% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Applied Genetic Technologies, and Iovance Biotherapeutics Inc.
Krystal Biotech Inc has an analyst consensus of Strong Buy, with a price target consensus of $42.25, representing an 81.6% upside. In a report issued on December 12, Cowen & Co. also initiated coverage with a Buy rating on the stock.
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Based on Krystal Biotech Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $2.76 million. In comparison, last year the company had a GAAP net loss of $5.27 million.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KRYS in relation to earlier this year.
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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.
