Stifel Reiterates Buy Rating on Krystal Biotech (KRYS)

Stifel analyst Dae Gon Ha reiterated a Buy rating and $204.00 price target on Krystal Biotech (NASDAQ: KRYS).

The analyst comments "Underappreciated behind Vyjuvek (dystrophic epidermolysis bullosa [DEB]) headlines is the broad gene delivery applicability of KRYS' engineered HSV-1 viral vectors. We think investors give minimal credit (if any) to the respiratory disease pipeline, and further down the list is the aesthetics program through Jeune. We think today's PEARL-1 study update spanning cohorts 3-4 (lateral canthal lines and dynamic wrinkles of the decollete) is further proof that delivery of genes to the skin using HSV-1 vectors goes beyond DEB and, moreover, may also find its niche in a completely different market – aesthetics. Based on our conversations (i.e., no value to Jeune), we think shares could see an incremental boost on today's news as the update further validates "platform value" for the stock. And whereas management has decided to proceed with wrinkles of the decollete post-PEARL-1, future success here could lead to non-dilutive financing opportunities. Reiterate Buy."

For an analyst ratings summary and ratings history on Krystal Biotech click here. For more ratings news on Krystal Biotech click here.

Shares of Krystal Biotech closed at $198.22 yesterday.

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