Kiniksa Pharmaceuticals’ (KNSA) Outperform Rating Reiterated at Wedbush

Kiniksa Pharmaceuticals (NASDAQ:KNSA)‘s stock had its “outperform” rating reaffirmed by Wedbush in a report issued on Wednesday, MarketBeat Ratings reports. They currently have a $34.00 price objective on the stock. Wedbush’s price target indicates a potential upside of 68.23% from the company’s current price.

Separately, Citigroup began coverage on shares of Kiniksa Pharmaceuticals in a research note on Thursday, March 13th. They issued a “buy” rating and a $40.00 target price for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat, Kiniksa Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $37.17.

Kiniksa Pharmaceuticals Trading Down 1.6 %

Shares of NASDAQ:KNSA opened at $20.21 on Wednesday. The company has a market capitalization of $1.47 billion, a PE ratio of -144.35 and a beta of 0.31. Kiniksa Pharmaceuticals has a 12-month low of $16.56 and a 12-month high of $28.15. The business’s fifty day simple moving average is $21.04 and its 200-day simple moving average is $21.53.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. The firm had revenue of $122.50 million during the quarter, compared to the consensus estimate of $123.42 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 46.9% compared to the same quarter last year. Research analysts predict that Kiniksa Pharmaceuticals will post -0.55 EPS for the current year.

Insider Activity at Kiniksa Pharmaceuticals

In related news, COO Eben Tessari sold 14,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $19.57, for a total value of $273,980.00. Following the transaction, the chief operating officer now directly owns 81,975 shares of the company’s stock, valued at $1,604,250.75. This represents a 14.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael R. Megna sold 9,051 shares of Kiniksa Pharmaceuticals stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $22.45, for a total value of $203,194.95. Following the sale, the chief accounting officer now directly owns 26,528 shares of the company’s stock, valued at approximately $595,553.60. This represents a 25.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,766 shares of company stock valued at $2,002,135 in the last three months. 54.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Kiniksa Pharmaceuticals in the third quarter valued at approximately $1,105,000. Wellington Management Group LLP purchased a new stake in shares of Kiniksa Pharmaceuticals in the 3rd quarter valued at $1,192,000. Franklin Resources Inc. increased its stake in shares of Kiniksa Pharmaceuticals by 1.7% in the third quarter. Franklin Resources Inc. now owns 67,533 shares of the company’s stock worth $1,798,000 after acquiring an additional 1,100 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Kiniksa Pharmaceuticals in the third quarter worth $4,997,000. Finally, Nordea Investment Management AB raised its holdings in shares of Kiniksa Pharmaceuticals by 4.4% during the fourth quarter. Nordea Investment Management AB now owns 194,883 shares of the company’s stock worth $3,818,000 after purchasing an additional 8,257 shares during the last quarter. 53.95% of the stock is currently owned by hedge funds and other institutional investors.

Kiniksa Pharmaceuticals Company Profile

Kiniksa Pharmaceuticals, Ltd., a biopharmaceutical company, focuses on discovering, acquiring, developing, and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical needs worldwide. Its product candidates include ARCALYST, an interleukin-1alpha and interleukin-1beta, for the treatment of recurrent pericarditis, which is an inflammatory cardiovascular disease; Mavrilimumab, a monoclonal antibody inhibitor that completed Phase II clinical trials for the treatment of giant cell arteritis; Vixarelimab, a monoclonal antibody, that is in Phase 2b clinical trial for the treatment of prurigo nodularis, a chronic inflammatory skin condition; and KPL-404, a monoclonal antibody inhibitor of the CD40- CD154 interaction, a T-cell co-stimulatory signal critical for B-cell maturation, immunoglobulin class switching, and type 1 immune response.