Kiniksa Pharmaceuticals (NASDAQ:KNSA) Earns Outperform Rating from Wedbush

Kiniksa Pharmaceuticals (NASDAQ:KNSA)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research note issued on Tuesday, RTT News reports. They currently have a $30.00 price target on the stock. Wedbush’s target price points to a potential upside of 66.20% from the stock’s previous close.

Separately, TheStreet raised shares of Kiniksa Pharmaceuticals from a “d+” rating to a “c” rating in a research report on Thursday, February 29th.

Kiniksa Pharmaceuticals Price Performance

KNSA stock traded up $0.96 on Tuesday, hitting $18.05. 277,727 shares of the company were exchanged, compared to its average volume of 398,369. Kiniksa Pharmaceuticals has a twelve month low of $10.65 and a twelve month high of $22.09. The business’s fifty day moving average is $19.40 and its two-hundred day moving average is $18.00. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 100.28 and a beta of 0.27.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.15. Kiniksa Pharmaceuticals had a net margin of 5.11% and a negative return on equity of 6.12%. The company had revenue of $83.40 million during the quarter, compared to analyst estimates of $72.31 million. Equities research analysts expect that Kiniksa Pharmaceuticals will post -0.06 earnings per share for the current year.

Insider Activity at Kiniksa Pharmaceuticals

In related news, CEO Sanj K. Patel sold 12,742 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $21.49, for a total transaction of $273,825.58. Following the completion of the sale, the chief executive officer now directly owns 70,594 shares of the company’s stock, valued at approximately $1,517,065.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Sanj K. Patel sold 5,582 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $21.00, for a total transaction of $117,222.00. Following the completion of the sale, the chief executive officer now directly owns 65,012 shares of the company’s stock, valued at approximately $1,365,252. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sanj K. Patel sold 12,742 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $21.49, for a total transaction of $273,825.58. Following the transaction, the chief executive officer now directly owns 70,594 shares of the company’s stock, valued at $1,517,065.06. The disclosure for this sale can be found here. In the last three months, insiders sold 33,109 shares of company stock valued at $709,929. Corporate insiders own 54.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc acquired a new position in Kiniksa Pharmaceuticals during the 3rd quarter worth $65,000. China Universal Asset Management Co. Ltd. grew its holdings in Kiniksa Pharmaceuticals by 349.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,097 shares of the company’s stock worth $72,000 after acquiring an additional 3,186 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Kiniksa Pharmaceuticals during the 3rd quarter worth $176,000. Dynamic Technology Lab Private Ltd acquired a new position in Kiniksa Pharmaceuticals during the 4th quarter worth $213,000. Finally, QRG Capital Management Inc. acquired a new position in Kiniksa Pharmaceuticals during the 3rd quarter worth $249,000. 53.95% of the stock is owned by institutional investors and hedge funds.

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.