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

Wedbush restated their outperform rating on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a research report released on Wednesday, Marketbeat reports. They currently have a $34.00 price target on the stock.

Separately, Citigroup started 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 on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $37.17.

Kiniksa Pharmaceuticals Price Performance

NASDAQ KNSA opened at $20.21 on Wednesday. Kiniksa Pharmaceuticals has a 1-year low of $16.56 and a 1-year high of $28.15. The company has a market cap of $1.47 billion, a PE ratio of -144.35 and a beta of 0.31. The stock’s 50 day simple moving average is $21.05 and its 200-day simple moving average is $21.49.

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

Insiders Place Their Bets

In other Kiniksa Pharmaceuticals news, CFO Mark Ragosa sold 11,464 shares of Kiniksa Pharmaceuticals stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.10, for a total value of $264,818.40. Following the sale, the chief financial officer now owns 23,382 shares in the company, valued at $540,124.20. The trade was a 32.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eben Tessari sold 14,000 shares of the 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 owns 81,975 shares of the company’s stock, valued at approximately $1,604,250.75. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,766 shares of company stock valued at $2,002,135 over the last ninety days. Company insiders own 54.57% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Kiniksa Pharmaceuticals during the 3rd quarter worth 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. lifted its stake in Kiniksa Pharmaceuticals by 1.7% during the 3rd 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 in the last quarter. JPMorgan Chase & Co. purchased a new position in Kiniksa Pharmaceuticals during the 3rd quarter valued at about $4,997,000. Finally, Nordea Investment Management AB grew its position in Kiniksa Pharmaceuticals by 4.4% in the 4th quarter. Nordea Investment Management AB now owns 194,883 shares of the company’s stock valued at $3,818,000 after acquiring an additional 8,257 shares in the last quarter. Hedge funds and other institutional investors own 53.95% of the company’s stock.

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.