Kiniksa Pharmaceuticals’ (KNSA) Outperform Rating Reiterated at Wedbush

Kiniksa Pharmaceuticals (NASDAQ:KNSA)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a research report issued on Monday,RTT News reports. They presently have a $34.00 price objective on the stock. Wedbush’s target price would indicate a potential upside of 87.12% from the stock’s current price.

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. lifted their target price on Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Evercore ISI lifted their price target on Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Kiniksa Pharmaceuticals has a consensus rating of “Buy” and an average target price of $36.60.

Kiniksa Pharmaceuticals Trading Down 8.8 %

NASDAQ:KNSA traded down $1.76 during midday trading on Monday, reaching $18.17. The company had a trading volume of 684,008 shares, compared to its average volume of 492,215. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -129.78 and a beta of 0.29. The stock’s fifty day simple moving average is $21.08 and its 200-day simple moving average is $23.28. Kiniksa Pharmaceuticals has a 12-month low of $16.56 and a 12-month high of $28.15.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last released its earnings results on Tuesday, October 29th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.17). The company had revenue of $112.21 million during the quarter, compared to analysts’ expectations of $111.51 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 67.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.20) earnings per share. As a group, sell-side analysts expect that Kiniksa Pharmaceuticals will post -0.55 EPS for the current year.

Insiders Place Their Bets

In other news, COO Eben Tessari sold 17,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.87, for a total value of $456,790.00. Following the completion of the sale, the chief operating officer now directly owns 109,975 shares of the company’s stock, valued at approximately $2,955,028.25. The trade was a 13.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Ragosa sold 8,969 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were 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 of the company’s stock, 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 27,092 shares of company stock valued at $673,039 in the last ninety days. Insiders own 54.57% of the company’s stock.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in KNSA. Wellington Management Group LLP acquired a new position in Kiniksa Pharmaceuticals during the 3rd quarter worth approximately $1,192,000. Dimensional Fund Advisors LP increased its position in Kiniksa Pharmaceuticals by 31.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 664,040 shares of the company’s stock worth $12,398,000 after purchasing an additional 157,741 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Kiniksa Pharmaceuticals during the 3rd quarter worth approximately $675,000. Parkman Healthcare Partners LLC increased its position in Kiniksa Pharmaceuticals by 16.7% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 755,244 shares of the company’s stock worth $18,874,000 after purchasing an additional 108,102 shares during the period. Finally, Millennium Management LLC increased its position in Kiniksa Pharmaceuticals by 159.8% during the 2nd quarter. Millennium Management LLC now owns 621,948 shares of the company’s stock worth $11,612,000 after purchasing an additional 382,539 shares during the period. 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.