H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Krystal Biotech (KRYS – Research Report) today and set a price target of $240.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors related to Krystal Biotech’s promising product pipeline and strategic market expansions. The company’s Vyjuvex therapy, a first-in-class treatment, is showing a positive launch trajectory despite some initial volatility in financial results. This volatility is attributed to factors such as seasonal insurance resets and the transition of patients to maintenance therapy, which are expected to stabilize over time. The company’s transparency in addressing these issues and its plans to expand its salesforce are seen as positive steps.
Additionally, Krystal Biotech’s efforts to expand into new markets, including the anticipated launch in the European Union and potential approval in Japan, further support the Buy rating. The initiation of the Phase 3 IOLITE study for DEB ocular patients represents another significant growth opportunity, with the study designed to demonstrate the efficacy of their gene therapy product, KB803. These strategic initiatives and the company’s growing patient base contribute to Pantginis’s optimistic outlook on Krystal Biotech’s future performance.
In another report released on June 25, TD Cowen also maintained a Buy rating on the stock with a $202.00 price target.