Promising Developments in Krystal Biotech’s Gene Therapy Drive Buy Rating

H.C. Wainwright analyst Joseph Pantginis has reiterated their bullish stance on KRYS stock, giving a Buy rating on June 11.

Joseph Pantginis has given his Buy rating due to a combination of factors, including the promising developments in Krystal Biotech’s clinical trials. The initiation of the Phase 3 IOLITE study marks a significant step forward, as it targets an important expansion into treating DEB ocular patients with the innovative KB803 gene therapy. This study is designed to be rigorous, with a double-blind, placebo-controlled, crossover format, aiming to demonstrate a substantial therapeutic effect.
Additionally, the study’s robust design, powered to detect a meaningful change in patient outcomes, and the encouraging results from previous compassionate use cases, where full corneal healing was observed, contribute to the positive outlook. The ongoing natural history study, which has already enrolled a significant number of patients, further supports the potential success of Krystal Biotech’s therapeutic approach. These factors collectively underpin Pantginis’s confidence in the company’s growth prospects and the stock’s potential to reach the target price.

In another report released on June 11, Goldman Sachs also maintained a Buy rating on the stock with a $194.00 price target.