Krystal Biotech Inc. (KRYS) witnessed a pre-market soar of 5.02% on Thursday, February 20, 2025, driven by robust financial results and an optimistic analyst outlook.
The company reported stellar earnings for the fourth quarter and full year 2024, reflecting the successful launch of its flagship product, VYJUVEK, for the treatment of dystrophic epidermolysis bullosa (DEB). Krystal Biotech achieved net income per share of $3.12 for 2024, up from $0.40 in the previous year, marking six straight quarters of positive earnings and four consecutive quarters of sequential growth.
Furthermore, net VYJUVEK revenue for Q4 2024 stood at $91.1 million, contributing to a total revenue of $290.5 million for the year. The company maintained a robust gross margin of 95% in Q4 2024, showcasing its operational efficiency and strong financial position with $749.6 million in total cash and investments.
In addition to the impressive financial performance, Citi analyst Yigal Nochomovitz raised the firm's price target on Krystal Biotech to $215 from $206, while maintaining a Neutral rating. Nochomovitz's positive outlook, coupled with the company's strong earnings and revenue growth, fueled investor confidence, driving the stock's pre-market surge.
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