Jefferies has raised its price target for Krystal Biotech, Inc. (KRYS) to $371, while reiterating a "Buy" recommendation. This update reflects the company's robust performance, highlighted by significant revenue growth from its key products, Vyjuvek and DEB, in the U.S. market, achieving substantial penetration. With international market expansion on the horizon for 2026 and a promising pipeline of genetic medicines, Krystal Biotech is positioned for continued advancement in addressing unmet medical needs.

On February 17, 2026, Roger Song, an analyst at Jefferies, elevated the price target for Krystal Biotech, Inc. (NASDAQ:KRYS) from $310 to $371, maintaining a "Buy" rating. Song highlighted Krystal Biotech's exceptional quarter and full-year results, noting the accelerated revenue growth of Vyjuvek and DEB in the U.S. market, which has achieved an impressive 60% penetration rate. He also emphasized that international expansion is expected to be a significant growth driver for the company starting in 2026. Furthermore, Song pointed to the maturation of Krystal Biotech's pipeline, with two ophthalmology programs currently in pivotal trials, where data is anticipated in 2026, and two additional programs nearing pivotal stages.

Concurrently, on February 17, 2026, Krystal Biotech reported strong fourth-quarter revenues of $107.1 million, surpassing the consensus estimate of $105.13 million. Krish S. Krishnan, the Chairman and CEO, remarked on the company's substantial progress in delivering therapies to patients suffering from dystrophic epidermolysis bullosa, while also establishing a global infrastructure to broaden its impact. Krishnan also underscored the recent positive outcomes from the cystic fibrosis program, which validates the versatility of the company's platform. He indicated that multiple registrational study readouts are expected across its rare disease pipeline in the near future.

Adding to its recent achievements, Krystal Biotech announced on February 9, 2026, that the U.S. Food and Drug Administration (FDA) had granted Regenerative Medicine Advanced Therapy (RMAT) designation to KB707. This designation is for the treatment of advanced or metastatic non-small cell lung cancer (NSCLC). This significant recognition was based on promising early clinical data from the ongoing KYANITE-1 study, which demonstrated consistent antitumor activity. The study's findings included durable responses and noticeable tumor reductions in patients who had undergone extensive prior treatments, showcasing the potential of KB707 to address a critical need in cancer therapy.

Krystal Biotech, Inc. (NASDAQ:KRYS) is a leading commercial-stage biotechnology firm dedicated to the development and commercialization of innovative genetic medicines. The company primarily focuses on addressing diseases with substantial unmet medical needs within the United States. Through its advanced research and development efforts, Krystal Biotech aims to deliver transformative therapies that can significantly improve patient outcomes and quality of life.

Jefferies' enhanced outlook for Krystal Biotech underscores the company's strong operational performance and promising clinical pipeline. The accelerated adoption of its flagship products, coupled with strategic international expansion plans and advancements in its genetic medicine programs, position Krystal Biotech for continued success and growth in the biotechnology sector. The positive analyst sentiment reflects confidence in the company's ability to deliver on its long-term objectives and address critical medical needs.