Kiniksa Pharmaceuticals (NASDAQ:KNSA) Earns Overweight Rating from Analysts at Wells Fargo & Company

Equities researchers at Wells Fargo & Company started coverage on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a report issued on Friday, MarketBeat.com reports. The firm set an “overweight” rating and a $34.00 price target on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 69.32% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. TheStreet upgraded shares of Kiniksa Pharmaceuticals from a “d+” rating to a “c” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. upped their target price on shares of Kiniksa Pharmaceuticals from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday. Wedbush reiterated an “outperform” rating and set a $30.00 price target on shares of Kiniksa Pharmaceuticals in a report on Tuesday, April 23rd. Finally, Evercore ISI boosted their price target on Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, Kiniksa Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $31.00.

Kiniksa Pharmaceuticals Stock Performance

NASDAQ KNSA traded up $0.70 during trading on Friday, hitting $20.08. The stock had a trading volume of 403,855 shares, compared to its average volume of 396,776. Kiniksa Pharmaceuticals has a 12 month low of $12.69 and a 12 month high of $22.09. The company’s 50-day moving average price is $19.16 and its two-hundred day moving average price is $18.12. The company has a market capitalization of $1.42 billion, a PE ratio of 182.56 and a beta of 0.32.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.11). The business had revenue of $79.90 million during the quarter, compared to the consensus estimate of $76.97 million. Kiniksa Pharmaceuticals had a negative return on equity of 7.26% and a net margin of 2.78%. The business’s revenue for the quarter was up 65.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) EPS. As a group, equities analysts anticipate that Kiniksa Pharmaceuticals will post -0.1 earnings per share for the current fiscal year.

Insider Transactions at Kiniksa Pharmaceuticals

In other news, CEO Sanj K. Patel sold 5,582 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was 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 owns 65,012 shares in the company, valued at $1,365,252. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Kiniksa Pharmaceuticals news, CEO Sanj K. Patel sold 5,582 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $21.00, for a total transaction of $117,222.00. Following the transaction, the chief executive officer now owns 65,012 shares in the company, valued at approximately $1,365,252. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanj K. Patel sold 12,742 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 33,109 shares of company stock worth $709,929. 54.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KNSA. Bank of New York Mellon Corp grew its position in Kiniksa Pharmaceuticals by 13.8% during the third quarter. Bank of New York Mellon Corp now owns 146,568 shares of the company’s stock worth $2,546,000 after buying an additional 17,790 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Kiniksa Pharmaceuticals by 89.5% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 55,047 shares of the company’s stock worth $956,000 after purchasing an additional 26,002 shares during the period. Principal Financial Group Inc. acquired a new position in Kiniksa Pharmaceuticals in the third quarter valued at about $777,000. Capula Management Ltd bought a new stake in Kiniksa Pharmaceuticals during the third quarter worth about $892,000. Finally, Victory Capital Management Inc. bought a new stake in Kiniksa Pharmaceuticals during the third quarter worth about $176,000. Institutional investors and hedge funds own 53.95% of the company’s stock.

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.