Analyst Alec Stranahan from Bank of America Securities reiterated a Buy rating on Krystal Biotech (KRYS – Research Report) and decreased the price target to $193.00 from $200.00.
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Alec Stranahan has given his Buy rating due to a combination of factors including Krystal Biotech’s potential for recovery and growth despite a weak first quarter. The company experienced a decline in Vyjuvek revenue, which was below expectations, but this is seen as a temporary issue given historical patterns of weaker first quarters and the potential for recovery in subsequent quarters. Additionally, the anticipated launches in Europe and Japan are expected to contribute positively to future performance.
Stranahan also notes that while some key metrics such as gross margins and compliance rates remained relatively stable, the slowdown in reimbursement approvals is a concern. However, Krystal Biotech is taking steps to address this by strengthening its sales teams, which could help boost growth. Furthermore, the company’s pipeline, including updates on KB407 and KB408, as well as advancements in ophthalmology and oncology programs, are expected to broaden its growth story in 2025 and beyond.
Stranahan covers the Healthcare sector, focusing on stocks such as Novavax, TG Therapeutics, and Krystal Biotech. According to TipRanks, Stranahan has an average return of -10.2% and a 41.15% success rate on recommended stocks.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $240.00 price target.
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