William Blair starts 'underappreciated' Krystal Biotech at Outperform
William Blair analyst Raju Prasad initiated coverage of Krystal Biotech with an Outperform rating and $29 fair-value estimate. The company is developing novel gene therapies for skin diseases, and its lead candidate KB103 is in a Phase I/II trial for the treatment of dystrophic epidermolysis bullosa, Prasad tells investors in a research note titled. The analyst believes the shares offer a positive risk/reward profile ahead of clinical data expected by year-end given KB103's mechanism of action and preclinical data. If approved, KB103, could generate $500M in worldwide revenue by 2028, Prasad predicts. He views Krystal Biotech as an "underappreciated gene therapy company."