Berenberg initiated coverage of Krystal Biotech with a Buy rating and $154 price target, implying 24% upside. The analyst believes the shares are currently undervalued and that the Street has not fully priced in the upcoming U.S. launch and full commercial potential of the recently FDA-approved drug Vyjuvek, a gene delivery treatment for dystrophic epidermolysis bullosa. The firm says Krystal’s gene delivery platform can also generate ideal disease-modifying candidates for additional rare diseases.
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