Citigroup Reaffirms Neutral Rating for Krystal Biotech, Raises Price Target to $176.00

Citigroup analyst Carly Kenselaar reaffirmed a "Neutral" rating for Krystal Biotech (KRYS) while raising its price target from $155 to $176, a 13.55% increase. The average target price for KRYS is $208, implying a 38.91% upside from the current price. The average brokerage recommendation is 1.7, indicating an "Outperform" status.

Krystal Biotech, Inc. (NASDAQ: KRYS) has announced the first patient dosing in its Phase 1/2 clinical trial, EMERALD-1, for the treatment of neurotrophic keratitis (NK) using KB801, a redosable eye drop gene therapy [1]. The trial is a randomized, double-masked, multicenter, placebo-controlled study evaluating KB801 for NK, a rare corneal disease characterized by damage or loss of function in the neurons innervating the eye.

The trial will enroll up to 27 adults with Stage 2 or Stage 3 NK, as defined by the Mackie criteria, and randomly assign them in a 2:1 ratio to receive either KB801 at a concentration of 1010 PFU/mL or a placebo, applied to the affected eye twice weekly for 8 weeks [1]. The primary objective is to assess the safety and tolerability of KB801's topical application, while the secondary objective is to evaluate efficacy based on complete durable healing of the corneal epithelium [1].

Citigroup analyst Carly Kenselaar reaffirmed a "Neutral" rating for Krystal Biotech while raising its price target from $155 to $176, a 13.55% increase [2]. The average target price for KRYS is $208, implying a 38.91% upside from the current price. The average brokerage recommendation is 1.7, indicating an "Outperform" status [2].

References:
[1] https://www.biospace.com/press-releases/krystal-biotech-announces-first-patient-dosed-in-phase-1-2-trial-of-kb801-for-the-treatment-of-neurotrophic-keratitis
[2] https://www.gurufocus.com/news/2966074/krystal-biotech-krys-initiates-trial-for-gene-therapy-in-eye-disease-krys-stock-news