Krystal Biotech initiated with a Buy at Jefferies

Jefferies analyst Roger Song initiated coverage of Krystal Biotech (KRYS) with a Buy rating and $245 price target Krystal is a commercial stage biotech focusing on local gene delivery, with lead drug Vyjuvek as the only approved treatment for dystrophic epidermolysis bullosa, the analyst tells investors in a research note. The firm says the drug is performing well two years into the launch. Jefferies expects steady growth to achieve blockbuster status in a few years, deepening Vyjuvek’s penetration by accessing the global and ocular market.