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Investing.com - Krystal Biotech (NASDAQ:KRYS), which boasts impressive gross profit margins of 93.37%, maintained its Buy rating from H.C. Wainwright on Monday, with the firm reiterating its $240.00 price target following a significant FDA label update for the company’s VYJUVEK treatment. According to InvestingPro data, analyst targets range from $166 to $252, suggesting potential upside from the current price of $155.71.
The FDA approved an expanded label for VYJUVEK on September 15, now allowing the treatment to be used in dystrophic epidermolysis bullosa (DEB) patients from birth, a notable change from the previous restriction limiting use to patients 6 months and older.
The updated label also grants patients and caregivers the flexibility to apply VYJUVEK at home independently, eliminating the necessity for clinical administration, while wound dressings can now be removed during the next dressing change rather than waiting the previously required 24 hours.
H.C. Wainwright noted these changes were supported by real-world data and open-label extension studies demonstrating positive safety and efficacy across all age groups, including cases where patients or caregivers applied the treatment.
The firm views these label modifications as a significant advancement in making VYJUVEK more accessible to DEB patients, potentially improving treatment adherence and quality of life by increasing convenience and reducing required clinic visits.
In other recent news, Krystal Biotech announced an important update regarding its VYJUVEK treatment after receiving approval from the U.S. Food and Drug Administration for an expanded label. This update allows dystrophic epidermolysis bullosa (DEB) patients from birth to receive the treatment and introduces more flexibility for at-home application by patients and caregivers. The label change also permits wound dressings to be managed with greater ease, aligning with the next dressing change rather than a fixed 24-hour period. Following this development, TD Cowen maintained its Buy rating on Krystal Biotech, with a price target of $202.00. Meanwhile, Chardan Capital Markets adjusted its price target for the company to $216.00 from $219.00, maintaining a Buy rating, due to a strategic shift in its KB707 program. Krystal Biotech is now focusing on developing an inhaled delivery method for KB707, aimed at treating advanced non-small cell lung cancer. H.C. Wainwright also reiterated its Buy rating and set a price target of $240.00, reflecting confidence in the company’s oncology program advancements. These developments highlight Krystal Biotech’s ongoing efforts to expand its treatment options and strategic focus.
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