Krystal Biotech (KRYS) PT Raised to $240 at H.C. Wainwright

H.C. Wainwright analyst Joseph Pantginis raised the price target on Krystal Biotech (NASDAQ: KRYS) to $240.00 (from $221.00) while maintaining a Buy rating.

The analyst commented: "Krystal announced on April 28 that the European Commission (EC) granted marketing authorization for VYJUVEK in Europe for the treatment of DEB in patients, starting from birth. With this decision, VYJUVEK is authorized for use across E.U. member states, as well as Iceland, Norway and Liechtenstein. The approval marks the first global launch for VYJUVEK, since its approval and successful launch in the U.S. in 2023. We are pleased by this major ex-U.S. regulatory milestone and its support for a broad label, including treatment of patients from birth and administration options for either a healthcare setting or at home. The company's team in Europe has already begun preparation for the first ex-U.S. launch, and remains on track to launch in Germany in mid-2025. The company expects this to be followed by several other launches in Europe, including France in 2H25, but final timing for availability in individual countries will depend on multiple factors, including the completion of reimbursement procedures. We are pleased to see the continued growth trajectory for VYJUVEK, as there remains a significant DEB opportunity in Europe, with Germany and France alone having identified 1000 DEB patients, and await further launch updates. Reiterate Buy rating and increase PT to $240 from $221."

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