Krystal Biotech price target raised to $119 from $107 at H.C. Wainwright

H.C. Wainwright analyst Joseph Pantginis raised the firm’s price target on Krystal Biotech to $119 from $107 and keeps a Buy rating on the shares after adjusting his forecast for peak sales penetration for VYJUVEK in RDEB patients to 30% from 35%, which he still believes "could be conservative" given the treatment’s first-to-market status. Krystal "continued clearing several important regulatory steps" in Q3, including FDA acceptance and granting Priority Review designation for the the VYJUVEK BLA, with a PDUFA date of February 17, 2023, as well as the FDA decision to not hold an AdCom to discuss the BLA and not identify a need for Risk Evaluation and Mitigation Strategies for the B-VEC application, Pantginis tells investors.