Evercore ISI added Krystal Biotech to the firm’s “Tactical Outperform” list while keeping an Outperform rating on the shares with a $168 price target. The conversion dynamic from PSFs revenue in Q3 was underappreciated, implying a strong monthly run-rate heading into Q4 combined with a shortening conversion cycle, the analyst tells investors in a research note. The firm thinks upward revisions to 2024 estimates should lift the stock post the Q4 report.
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