Wedbush Comments on Kiniksa Pharmaceuticals, Ltd.’s Q3 2024 Earnings (NASDAQ:KNSA)

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) – Wedbush increased their Q3 2024 earnings per share (EPS) estimates for shares of Kiniksa Pharmaceuticals in a report issued on Tuesday, July 23rd. Wedbush analyst D. Nierengarten now expects that the company will post earnings of $0.06 per share for the quarter, up from their previous estimate of ($0.02). Wedbush has a “Outperform” rating and a $34.00 price target on the stock. The consensus estimate for Kiniksa Pharmaceuticals’ current full-year earnings is ($0.05) per share. Wedbush also issued estimates for Kiniksa Pharmaceuticals’ Q4 2024 earnings at $0.08 EPS, FY2024 earnings at ($0.16) EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.18 EPS, Q4 2025 earnings at $0.22 EPS, FY2025 earnings at $0.67 EPS, FY2026 earnings at $1.22 EPS and FY2027 earnings at $1.63 EPS.

KNSA has been the topic of several other reports. JPMorgan Chase & Co. boosted their target price on Kiniksa Pharmaceuticals from $26.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Evercore ISI upped their price objective on Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Wells Fargo & Company began coverage on Kiniksa Pharmaceuticals in a research report on Friday, May 3rd. They issued an “overweight” rating and a $34.00 target price on the stock. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, Kiniksa Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $32.00.

Kiniksa Pharmaceuticals Price Performance

Shares of Kiniksa Pharmaceuticals stock opened at $26.12 on Friday. The stock has a market cap of $1.85 billion, a P/E ratio of 237.48 and a beta of 0.38. The stock’s 50 day simple moving average is $19.97 and its 200-day simple moving average is $19.47. Kiniksa Pharmaceuticals has a 1-year low of $14.12 and a 1-year high of $27.88.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. The company had revenue of $108.30 million for the quarter, compared to analysts’ expectations of $90.60 million. Kiniksa Pharmaceuticals had a negative return on equity of 7.83% and a negative net margin of 3.10%. Kiniksa Pharmaceuticals’s revenue was up 51.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) EPS.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Essex Investment Management Co. LLC increased its holdings in Kiniksa Pharmaceuticals by 0.5% in the first quarter. Essex Investment Management Co. LLC now owns 172,740 shares of the company’s stock valued at $3,408,000 after buying an additional 850 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Kiniksa Pharmaceuticals by 5.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,935 shares of the company’s stock valued at $413,000 after acquiring an additional 1,153 shares in the last quarter. SG Americas Securities LLC boosted its stake in Kiniksa Pharmaceuticals by 8.1% in the first quarter. SG Americas Securities LLC now owns 19,160 shares of the company’s stock valued at $378,000 after acquiring an additional 1,435 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in Kiniksa Pharmaceuticals by 1.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 147,182 shares of the company’s stock valued at $2,582,000 after acquiring an additional 1,540 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in Kiniksa Pharmaceuticals by 11.7% in the fourth quarter. QRG Capital Management Inc. now owns 16,010 shares of the company’s stock valued at $281,000 after acquiring an additional 1,679 shares in the last quarter. Hedge funds and other institutional investors own 53.95% of the company’s stock.

Insider Transactions at Kiniksa Pharmaceuticals

In other news, CEO Sanj K. Patel sold 136,124 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $25.65, for a total transaction of $3,491,580.60. Following the sale, the chief executive officer now owns 63,012 shares of the company’s stock, valued at $1,616,257.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Mark Ragosa sold 24,248 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $24.79, for a total transaction of $601,107.92. Following the sale, the chief financial officer now owns 19,253 shares of the company’s stock, valued at $477,281.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanj K. Patel sold 136,124 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $25.65, for a total value of $3,491,580.60. Following the sale, the chief executive officer now directly owns 63,012 shares in the company, valued at approximately $1,616,257.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 182,372 shares of company stock valued at $4,671,729. 54.57% of the stock is currently owned by company insiders.

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.