Krystal Biotech (NASDAQ:KRYS) Rating Increased to Strong-Buy at Chardan Capital

Chardan Capital upgraded shares of Krystal Biotech (NASDAQ:KRYS) to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

A number of other research firms have also issued reports on KRYS. Citigroup increased their target price on Krystal Biotech from $378.00 to $386.00 and gave the company a “buy” rating in a report on Tuesday. Wall Street Zen downgraded Krystal Biotech from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Jefferies Financial Group restated a “buy” rating and set a $474.00 price objective on shares of Krystal Biotech in a research report on Monday, July 13th. Evercore reaffirmed an “outperform” rating and set a $300.00 target price on shares of Krystal Biotech in a research note on Tuesday, May 5th. Finally, Weiss Ratings raised shares of Krystal Biotech from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $361.56.

Krystal Biotech Price Performance

Krystal Biotech stock opened at $325.78 on Monday. Krystal Biotech has a fifty-two week low of $132.31 and a fifty-two week high of $382.54. The firm’s 50 day simple moving average is $340.79 and its 200-day simple moving average is $297.13. The company has a market cap of $9.64 billion, a P/E ratio of 40.82 and a beta of 0.53.

Krystal Biotech (NASDAQ:KRYS) last issued its quarterly earnings results on Monday, August 3rd. The company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.70 by $0.09. Krystal Biotech had a net margin of 54.82% and a return on equity of 19.34%. The business had revenue of $119.22 million during the quarter, compared to the consensus estimate of $120.93 million. On average, analysts expect that Krystal Biotech will post 7.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Krystal Biotech news, EVP John Charles Thomas sold 1,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $347.27, for a total value of $347,270.00. Following the transaction, the executive vice president owned 1,000 shares in the company, valued at $347,270. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 company’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 1,378,155 shares in the company, valued at approximately $424,623,337.05. The trade was a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 26,642 shares of company stock valued at $8,243,923. Insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On Krystal Biotech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB raised its holdings in Krystal Biotech by 58.4% in the 4th quarter. Handelsbanken Fonder AB now owns 105,800 shares of the company’s stock worth $26,084,000 after acquiring an additional 39,000 shares during the period. Fisher Asset Management LLC bought a new position in shares of Krystal Biotech in the fourth quarter worth about $933,000. Biondo Investment Advisors LLC lifted its position in shares of Krystal Biotech by 31.3% during the 4th quarter. Biondo Investment Advisors LLC now owns 68,130 shares of the company’s stock worth $16,797,000 after purchasing an additional 16,245 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Krystal Biotech by 15.6% during the 4th quarter. Principal Financial Group Inc. now owns 165,074 shares of the company’s stock valued at $40,697,000 after purchasing an additional 22,231 shares during the period. Finally, William Blair Investment Management LLC grew its holdings in Krystal Biotech by 152.1% in the 4th quarter. William Blair Investment Management LLC now owns 376,340 shares of the company’s stock valued at $92,783,000 after buying an additional 227,038 shares during the last quarter. Institutional investors own 86.29% of the company’s stock.

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.