William Blair analyst Sami Corwin has maintained their bullish stance on KRYS stock, giving a Buy rating today.
Sami Corwin has given his Buy rating due to a combination of factors that highlight Krystal Biotech’s potential for long-term growth despite short-term challenges. The company experienced a slight revenue miss in the first quarter, attributed to patients pausing treatment after the initial intensive period. However, this pause reflects the durable effects of Vyjuvek, and management anticipates that patient return patterns will stabilize in future quarters.
Additionally, while the pace of reimbursement approvals for Vyjuvek has slowed, Krystal Biotech continues to make progress, with over 540 approvals secured. The company is addressing the slowdown by expanding its sales team and increasing marketing efforts. Furthermore, the recent FDA clearance of the IND for KB801, targeting neurotrophic keratitis, indicates a promising pipeline that could drive future growth. These strategic initiatives and the potential for new product development underpin Corwin’s confidence in Krystal Biotech’s long-term prospects.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $240.00 price target.