Kiniksa Pharmaceuticals International (NASDAQ:KNSA) Hits New 52-Week High After Earnings Beat

Kiniksa Pharmaceuticals International, plc (NASDAQ:KNSA)’s stock price hit a new 52-week high on Tuesday following a better than expected earnings announcement. The stock traded as high as $84.27 and last traded at $84.1270, with a volume of 46,358 shares changing hands. The stock had previously closed at $72.98.

The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.19. Kiniksa Pharmaceuticals International had a return on equity of 13.65% and a net margin of 9.59%. The business had revenue of $285.97 million during the quarter, compared to analysts’ expectations of $260.66 million.

Analysts Set New Price Targets

Several brokerages have commented on KNSA. Wedbush increased their price target on shares of Kiniksa Pharmaceuticals International from $72.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group upped their price objective on Kiniksa Pharmaceuticals International from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Canaccord Genuity Group upped their target price on Kiniksa Pharmaceuticals International from $64.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded Kiniksa Pharmaceuticals International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Citigroup boosted their price target on shares of Kiniksa Pharmaceuticals International from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.14.

Insider Buying and Selling at Kiniksa Pharmaceuticals International

In other Kiniksa Pharmaceuticals International news, Director G. Bradley Cole sold 3,673 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $81.43, for a total transaction of $299,092.39. Following the completion of the transaction, the director directly owned 11,672 shares in the company, valued at $950,450.96. The trade was a 23.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Michael Megna sold 4,600 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $80.30, for a total value of $369,380.00. Following the completion of the transaction, the chief accounting officer owned 29,062 shares in the company, valued at $2,333,678.60. The trade was a 13.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 51.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of KNSA. Headlands Technologies LLC purchased a new position in shares of Kiniksa Pharmaceuticals International in the second quarter worth $1,161,000. Inspire Investing LLC purchased a new stake in shares of Kiniksa Pharmaceuticals International in the 1st quarter valued at approximately $1,698,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Kiniksa Pharmaceuticals International in the first quarter valued at approximately $631,000. Handelsbanken Fonder AB acquired a new position in shares of Kiniksa Pharmaceuticals International during the 2nd quarter worth approximately $1,343,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Kiniksa Pharmaceuticals International by 56.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 63,346 shares of the company’s stock valued at $3,050,000 after acquiring an additional 22,917 shares during the period. 53.95% of the stock is currently owned by hedge funds and other institutional investors.

Kiniksa Pharmaceuticals International Trading Up 18.6%

The stock’s 50 day simple moving average is $78.03 and its 200 day simple moving average is $59.00. The stock has a market capitalization of $6.75 billion, a P/E ratio of 89.96 and a beta of 0.04.

About Kiniksa Pharmaceuticals International

Kiniksa Pharmaceuticals International plc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for patients with serious and often under-treated immunological diseases. The company’s research and development efforts are centered on targeting specific pathways involved in inflammation and immune-system dysfunction.

Kiniksa’s principal commercial product is ARCALYST (rilonacept), an interleukin-1 inhibitor. In the United States, ARCALYST is approved for reducing the risk of recurrence in patients with recurrent pericarditis and for the treatment of cryopyrin-associated periodic syndromes, including familial cold autoinflammatory syndrome and Muckle-Wells syndrome, in eligible patients.

The company also maintains a pipeline of investigational medicines designed to address autoimmune and inflammatory conditions.