Krystal Biotech (NASDAQ:KRYS) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Krystal Biotech (NASDAQ:KRYS) released its earnings results on Monday. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.06, FiscalAI reports. Krystal Biotech had a net margin of 53.92% and a return on equity of 19.25%. The business had revenue of $119.22 million for the quarter, compared to analyst estimates of $121.81 million.

Krystal Biotech Stock Performance

Krystal Biotech stock opened at $341.12 on Monday. The business’s 50 day simple moving average is $339.70 and its 200 day simple moving average is $296.45. Krystal Biotech has a 12 month low of $130.50 and a 12 month high of $382.54. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 45.60 and a beta of 0.53.

Wall Street Analyst Weigh In

Several research firms recently weighed in on KRYS. TD Cowen boosted their price target on shares of Krystal Biotech from $306.00 to $403.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Wall Street Zen cut shares of Krystal Biotech from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. HC Wainwright boosted their target price on Krystal Biotech from $310.00 to $361.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $474.00 target price on shares of Krystal Biotech in a report on Monday, July 13th. Finally, Evercore reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Krystal Biotech in a report on Tuesday, May 5th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $360.67.

Insiders Place Their Bets

In other news, EVP John Charles Thomas sold 1,000 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $347.27, for a total transaction of $347,270.00. Following the transaction, the executive vice president owned 1,000 shares of the company’s stock, valued at $347,270. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suma Krishnan sold 25,000 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $308.11, for a total value of $7,702,750.00. Following the transaction, the insider owned 1,378,155 shares of the company’s stock, valued at $424,623,337.05. The trade was a 1.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,642 shares of company stock valued at $8,243,923 over the last three months. Company insiders own 13.10% of the company’s stock.

Institutional Investors Weigh In On Krystal Biotech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in Krystal Biotech by 182.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,712 shares of the company’s stock worth $422,000 after purchasing an additional 1,105 shares during the period. Vident Advisory LLC increased its stake in shares of Krystal Biotech by 5.4% in the fourth quarter. Vident Advisory LLC now owns 1,494 shares of the company’s stock worth $368,000 after purchasing an additional 76 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Krystal Biotech in the fourth quarter valued at approximately $455,000. Empowered Funds LLC bought a new stake in shares of Krystal Biotech in the fourth quarter valued at approximately $212,000. Finally, Susquehanna Portfolio Strategies LLC lifted its stake in shares of Krystal Biotech by 8.6% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 4,104 shares of the company’s stock valued at $1,012,000 after buying an additional 325 shares in the last quarter. 86.29% of the stock is currently owned by institutional investors.

Krystal Biotech Company Profile

Krystal Biotech, Inc is a clinical-stage biotechnology company focused on developing gene therapies for rare dermatological diseases. Headquartered in Pittsburgh, Pennsylvania, the company applies proprietary viral vector delivery technology to enable topical administration of corrective genes directly to the skin. By targeting the underlying genetic causes of inherited skin disorders, Krystal Biotech seeks to address areas of high unmet medical need with potentially transformative treatments.

The company’s lead product candidate, KB103, is designed to deliver a functional COL7A1 gene to patients with dystrophic epidermolysis bullosa (DEB), a severe and often debilitating blistering condition.