H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Krystal Biotech Inc (KRYS) today and set a price target of $56. The company’s shares opened today at $37.83, close to its 52-week high of $39.95.
Pantginis commented:
“Valuation and risks to price target achievement. We reiterate our Buy rating and are increasing our price target to $56 from $38 based on increasing our projected chance of success for from 25%. Our valuation is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Our model currently received the majority of valuation contribution from KB103 for the treatment of DEB patients, with modest contribution from KB105 for ARCI.”
According to TipRanks.com, Pantginis has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.1% and a 34.7% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.
Currently, the analyst consensus on Krystal Biotech Inc is a Strong Buy with an average price target of $48.88, implying a 29.2% upside from current levels. In a report issued on June 14, Chardan Capital also reiterated a Buy rating on the stock with a $57.50 price target.
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Based on Krystal Biotech Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.11 million. In comparison, last year the company had a GAAP net loss of $2.15 million.
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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 2017 and is headquartered in Pittsburgh, PA.
