Krystal Biotech (KRYS) has received a new Buy rating, initiated by William Blair analyst, Sami Corwin.
Sami Corwin has given his Buy rating due to a combination of factors including Krystal Biotech’s solid financial performance and promising future prospects. The company reported strong revenue for Vyjuvek in its sixth quarter, achieving $91.1 million, which aligns well with expectations and demonstrates a healthy quarter-over-quarter growth. Moreover, Krystal’s gross margin stood impressively at 95%, indicating efficient operations. Net income also slightly exceeded estimates, reflecting the company’s robust financial health.
Additionally, Krystal Biotech’s strategic advancements in expanding its global commercial footprint are notable. With over 510 reimbursement approvals for Vyjuvek, the company is on track to meet its goal by the third quarter of 2025. The high compliance rate of 85% and significant coverage under commercial and Medicaid plans further bolster confidence in its market position. Furthermore, the anticipated EMA’s CHMP opinion and the strategic delay in negotiations suggest a promising outlook for Vyjuvek’s label and market expansion in Europe.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $221.00 price target.