Asia stocks rise: Japan surges on Takaichi bets, China buoyed by positive GDP
Investing.com - BofA Securities raised its price target on Krystal Biotech (NASDAQ:KRYS) to $255 from $182 on Friday, maintaining a Buy rating on the stock. The company, currently valued at $5.4 billion, has demonstrated impressive financial performance with a 116% revenue growth and industry-leading gross margins of 93%.
The firm cited strong performance of Vyjuvek, Krystal’s drug treating the rare skin condition dystrophic epidermolysis bullosa (DEB), and upcoming pipeline updates that offer "meaningful yet underappreciated upside potential."
BofA forecasts peak sales exceeding $1 billion for Vyjuvek, with international launches expected this year to complement the drug’s strong U.S. performance.
The firm highlighted near-term pipeline catalysts including KB407 data in cystic fibrosis, KB803 in ocular complications of DEB, and KB801 in neurotrophic keratitis as potential upside drivers.
BofA also noted that Krystal’s recently acquired platform designation from the FDA should allow for greater efficiency in development, manufacturing, and review processes.
In other recent news, Krystal Biotech has received a platform technology designation from the U.S. Food and Drug Administration for its HSV-1 viral vector, which is being evaluated in a trial for treating neurotrophic keratitis. Additionally, the FDA has approved an expanded label for Krystal Biotech’s VYJUVEK treatment, allowing dystrophic epidermolysis bullosa (DEB) patients from birth to receive the therapy, broadening its previous age restrictions. This update also permits patients and caregivers to apply the treatment at home, offering more flexibility in wound management. Following this significant FDA label update, H.C. Wainwright maintained its Buy rating on Krystal Biotech, with a price target of $240.00. Similarly, TD Cowen also reiterated its Buy rating, setting a price target of $202.00. These developments highlight the company’s progress in expanding treatment options and accessibility for patients.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.