BofA analyst Alec Stranahan raised the firm’s price target on Krystal Biotech to $205 from $195 on Friday and keeps a Buy rating on the shares. The firm views the recent phase 1 update for Jeune’s, a wholly owned subsidiary of Krystal, readout for KB301 as an incremental positive for the company. BofA continues to expect Krystal will look to divest Jeune once additional data becomes available, which would provide good optionality for non-dilutive capital to support internal pipeline programs and Vyjuvek expansion. And while further resolution on pivotal study endpoints with the FDA could influence read across from the Phase 1, the firm sees the strength of the update as increasing on confidence in the program.
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