Shares of Krystal Biotech Inc. (KRYS) are soaring 5.28% in Tuesday's trading session, following a positive analyst update from Chardan Capital. The biotechnology company's stock is gaining momentum as investors react to the reaffirmed bullish stance and increased price target from a key analyst.

Chardan Capital has maintained its "Buy" rating on Krystal Biotech while raising its price target from $216 to $220. This upward revision in the price target suggests increased confidence in the company's future prospects. The new target represents a significant upside potential from the stock's current trading levels, likely contributing to the surge in investor interest.

The positive analyst sentiment aligns with the broader market view on Krystal Biotech. According to analysts polled by FactSet, the company has an average rating of "Buy" and a mean price target of $222.46. This consensus outlook indicates that Wall Street remains optimistic about Krystal Biotech's growth potential and market position in the biotechnology sector. As investors digest this information, the stock's upward movement reflects growing confidence in the company's future performance and potential returns.