Analyst Backs Krystal with Buy Rating on Vyjuvek Launch Momentum and Rare-Disease Pipeline Upside

William Blair analyst Sami Corwin has maintained their bullish stance on KRYS stock, giving a Buy rating today.

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Sami Corwin has given his Buy rating due to a combination of factors, including the view that international launches of Vyjuvek should meaningfully accelerate revenue growth by 2026 while strong patient feedback supports durable demand. Corwin also believes Krystal’s strategy to have four commercial therapies in rare diseases by 2030 is realistic, given the expected progression of two additional programs into registrational trials by 2027.

Corwin highlights that pipeline updates in ophthalmology, alongside favorable changes to the KB801 and KB803 trial designs, are likely to support faster uptake once those products reach the market. In particular, KB801 is seen as a potential major growth driver if it can match or surpass the corneal-healing performance of Oxervate and benefit from its platform status to move efficiently through development and regulatory review, and Corwin argues that the current valuation underestimates both Vyjuvek’s long-term contribution and upcoming clinical catalysts, as reflected in modeled 2026 revenue of $503 million and net income of $240 million.

In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $361.00 price target.