Goldman Sachs analyst Andrea Newkirk has maintained their bullish stance on KRYS stock, giving a Buy rating today.
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Andrea Newkirk’s rating is based on the promising results from Krystal Biotech’s subsidiary, Jeune Aesthetics, which reported positive data from their Phase 1 PEARL-2 trial. The trial evaluated KB304, an injectable HSV-1 vector aimed at treating moderate to severe wrinkles, and demonstrated favorable safety and efficacy outcomes. Specifically, all subjects receiving KB304 showed at least a one-point improvement in the Global Aesthetic Improvement Scale, and a significant percentage reported improved satisfaction with their appearance compared to the placebo group.
Jeune Aesthetics plans to prioritize the development of KB304, with Phase 2 trials expected to commence following regulatory alignment. The potential market for skin rejuvenation is substantial, estimated at around $25 billion globally, which presents a vast commercial opportunity for Krystal Biotech. The addition of elastin delivery in KB304 is particularly noteworthy, as it plays a crucial role in maintaining skin elasticity and preventing sagging, further supporting the Buy rating given by Andrea Newkirk.
According to TipRanks, Newkirk is an analyst with an average return of -11.7% and a 42.86% success rate. Newkirk covers the Healthcare sector, focusing on stocks such as Krystal Biotech, Alkermes, and Madrigal Pharmaceuticals.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $240.00 price target.