Krystal Biotech (NASDAQ:KRYS) Upgraded to “Moderate Buy” at Royal Bank Of Canada

Krystal Biotech (NASDAQ:KRYS) was upgraded by analysts at Royal Bank Of Canada to a “moderate buy” rating in a report released on Friday,Zacks.com reports.

Several other research firms have also recently commented on KRYS. Citigroup raised their target price on Krystal Biotech from $378.00 to $386.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. TD Cowen increased their price target on Krystal Biotech from $306.00 to $403.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Chardan Capital upgraded Krystal Biotech to a “strong-buy” rating in a report on Monday, August 3rd. Wall Street Zen downgraded shares of Krystal Biotech from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Evercore reiterated an “outperform” rating and issued a $300.00 price objective on shares of Krystal Biotech in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $365.40.

Krystal Biotech Trading Up 1.2%

Shares of Krystal Biotech stock opened at $332.27 on Friday. The business has a 50-day moving average price of $344.39 and a two-hundred day moving average price of $299.25. Krystal Biotech has a 1-year low of $136.73 and a 1-year high of $382.54. The company has a market cap of $9.83 billion, a P/E ratio of 41.64 and a beta of 0.53.

Krystal Biotech (NASDAQ:KRYS) last posted its quarterly earnings data on Monday, August 3rd. The company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.09. The firm had revenue of $119.22 million during the quarter, compared to analyst estimates of $120.93 million. Krystal Biotech had a return on equity of 19.34% and a net margin of 54.82%. Equities research analysts forecast that Krystal Biotech will post 7.68 EPS for the current fiscal year.

Insider Buying and Selling at Krystal Biotech

In related news, Director Dino A. Rossi sold 25,000 shares of Krystal Biotech stock in a transaction on Friday, August 14th. The shares were sold at an average price of $329.12, for a total value of $8,228,000.00. Following the completion of the sale, the director owned 50,000 shares of the company’s stock, valued at approximately $16,456,000. This trade represents a 33.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John Charles Thomas sold 1,000 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $347.27, for a total transaction of $347,270.00. Following the sale, the executive vice president owned 1,000 shares of the company’s stock, valued at $347,270. This trade represents a 50.00% 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. Over the last quarter, insiders sold 51,642 shares of company stock valued at $16,471,923. Company insiders own 13.10% of the company’s stock.

Institutional Investors Weigh In On Krystal Biotech

Several hedge funds and other institutional investors have recently made changes to their positions in KRYS. BlackRock Inc. bought a new position in Krystal Biotech in the 2nd quarter valued at about $1,554,113,000. Avoro Capital Advisors LLC raised its stake in shares of Krystal Biotech by 4.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,888,888 shares of the company’s stock worth $712,226,000 after purchasing an additional 111,111 shares during the last quarter. State Street Corp lifted its holdings in shares of Krystal Biotech by 10.5% in the second quarter. State Street Corp now owns 1,355,346 shares of the company’s stock valued at $186,306,000 after purchasing an additional 128,639 shares in the last quarter. Soleus Capital Management L.P. boosted its position in shares of Krystal Biotech by 108.9% during the second quarter. Soleus Capital Management L.P. now owns 922,958 shares of the company’s stock valued at $126,870,000 after buying an additional 481,200 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of Krystal Biotech during the second quarter valued at approximately $211,909,000. 86.29% of the stock is owned by institutional investors.

About Krystal Biotech

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.