Analyst Joseph Pantginis of H.C. Wainwright reiterated a Buy rating on Krystal Biotech, retaining the price target of $240.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors including the promising results from Krystal Biotech’s PEARL-2 Phase 1 trial. The trial, which focused on the KB304 treatment for wrinkles in the décolleté area, showed significant improvements in patient satisfaction and various skin attributes such as elasticity and hydration. The data revealed that 81.8% of subjects treated with KB304 reported improved satisfaction, compared to just 14.3% in the placebo group.
Furthermore, the treatment demonstrated a favorable safety profile with only mild-to-moderate adverse events, which decreased with subsequent doses. These positive outcomes, along with the potential for KB304 to capture a significant share of the growing skin rejuvenation market, underpin Pantginis’s optimistic outlook. The market is expected to reach $44.5 billion by 2030, presenting a lucrative opportunity for Krystal Biotech. Additionally, the company’s strategic plans for further clinical development and regulatory engagement support the potential for future growth and success.