Kiniksa Pharmaceuticals’ (KNSA) “Outperform” Rating Reiterated at Wedbush

Kiniksa Pharmaceuticals (NASDAQ:KNSA)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a report issued on Tuesday,RTT News reports. They currently have a $34.00 price objective on the stock. Wedbush’s target price would suggest a potential upside of 70.64% from the company’s previous close.

Several other equities analysts have also commented on the stock. Evercore ISI increased their target price on shares of Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $36.60.

Kiniksa Pharmaceuticals Price Performance

NASDAQ:KNSA traded up $0.30 during trading hours on Tuesday, hitting $19.93. The stock had a trading volume of 242,053 shares, compared to its average volume of 537,155. The company has a 50 day simple moving average of $19.69 and a two-hundred day simple moving average of $22.63. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -142.31 and a beta of 0.32. Kiniksa Pharmaceuticals has a one year low of $16.56 and a one year high of $28.15.

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

Insider Buying and Selling at Kiniksa Pharmaceuticals

In other news, COO Eben Tessari sold 14,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $18.24, for a total transaction of $255,360.00. Following the completion of the transaction, the chief operating officer now directly owns 88,975 shares of the company’s stock, valued at approximately $1,622,904. This represents a 13.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Ragosa sold 8,969 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $21.45, for a total value of $192,385.05. Following the completion of the sale, the chief financial officer now directly owns 22,958 shares in the company, valued at $492,449.10. The trade was a 28.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,092 shares of company stock valued at $745,589 in the last quarter. Company insiders own 54.57% of the company’s stock.

Institutional Trading of Kiniksa Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Kiniksa Pharmaceuticals in the third quarter worth approximately $50,000. Lazard Asset Management LLC purchased a new stake in Kiniksa Pharmaceuticals during the 4th quarter valued at $61,000. KLP Kapitalforvaltning AS bought a new position in shares of Kiniksa Pharmaceuticals during the 4th quarter valued at $158,000. Bellevue Group AG bought a new position in shares of Kiniksa Pharmaceuticals during the 4th quarter valued at $160,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Kiniksa Pharmaceuticals by 117.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,483 shares of the company’s stock worth $168,000 after buying an additional 4,575 shares during the last quarter. 53.95% of the stock is owned by hedge funds and other institutional investors.

About Kiniksa Pharmaceuticals

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.