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Krystal Biotech Analysts Increase Their Forecasts Following Q4 Results

Published 27/02/2024, 18:03
© Reuters.  Krystal Biotech Analysts Increase Their Forecasts Following Q4 Results
KRYS
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Benzinga - by Avi Kapoor, Benzinga Staff Writer.

Krystal Biotech, Inc. (NASDAQ: KRYS) reported better-than-expected financial results for its fourth quarter on Monday.

Krystal Biotech posted quarterly earnings of 30 cents per share, compared to market expectations for a loss of 39 cents per share. The company’s quarterly sales came in at $42.14 million versus estimates of $28.61 million, according to data from Benzinga Pro.

“2023 was an inflection point for Krystal with the approval and launch of VYJUVEK, the first-ever FDA approved therapy for dystrophic epidermolysis bullosa and only medicine that delivers the corrective power of gene therapy in an easy-to-apply, redosable, topical gel formulation that can be administered at home,” said Krish S. Krishnan, Chairman and CEO of Krystal Biotech. “Our U.S. commercial launch trajectory is tracking closely to that of the best recent rare disease launches with $50.7 million in net product revenue only six months since approval, supported by high patient and physician demand, broad access, and high compliance. We look forward to expanding VYJUVEK access in the U.S. and globally in the years to come, while advancing our clinical pipeline and reinforcing our leadership in redosable gene therapy.”

Krystal Biotech said it sees FY24 non-GAAP R&D and SG&A expense of $150 million to $175 million.

Krystal Biotech shares gained 5.3% to trade at $165.35 on Tuesday.

These analysts made changes to their price targets on Krystal Biotech after the company reported quarterly results.

  • Guggenheim boosted the price target on Krystal Biotech from $130 to $175. Guggenheim analyst Debjit Chattopadhyay maintained a Buy rating.
  • Citigroup raised the price target on Krystal Biotech from $160 to $195. Citigroup analyst Yigal Nochomovitz maintained a Buy rating.

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Latest Ratings for KRYS

DateFirmActionFromTo
Mar 2022Goldman SachsMaintainsBuy
Feb 2022HC Wainwright & Co.MaintainsBuy
Jan 2022B of A SecuritiesInitiates Coverage OnBuy
View More Analyst Ratings for KRYS

View the Latest Analyst Ratings

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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