Chardan Capital analyst Gbola Amusa reiterated a Buy rating on Krystal Biotech Inc (KRYS) today and set a price target of $75. The company’s shares closed on Friday at $45.81, close to its 52-week high of $51.67.
Amusa said:
“We view today’s updates together with recent progress as further support for our bullish view on KRYS and repeat: We would not be surprised if Krystal’s market cap crosses $1 billion by 2020E. Recall, Krystal announced receipt of the FDA Therapy (RMAT) designation for KB103. This news followed KB103 receiving the EMA Priority Medicines (PRIME) designation on 29 March. As we have noted, Krystal’s market cap is modest relative to companies with PRIME and/or RMAT/BTD designations. Additionally, we have also previously noted, “In the context of ongoing M&A activity in the vector GT space, we consider Krystal to have one of the most unique platforms, and one we think will be highly sought after by big biopharma players” as pipeline assets become more tangible.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 20.4% and a 50.9% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Voyager Therapeutics Inc, Axovant Gene Therapies, and VistaGen Therapeutics.
Currently, the analyst consensus on Krystal Biotech Inc is a Strong Buy with an average price target of $67.75, which is a 47.9% upside from current levels. In a report issued on July 23, Cowen & Co. also maintained a Buy rating on the stock.
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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 $2.28 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.