Kiniksa Pharmaceuticals (NASDAQ:KNSA) Coverage Initiated at Citigroup

Stock analysts at Citigroup started coverage on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm set a “buy” rating and a $40.00 price target on the stock. Citigroup’s price objective would indicate a potential upside of 76.91% from the stock’s current price.

Separately, Wedbush reiterated an “outperform” rating and issued a $34.00 price target on shares of Kiniksa Pharmaceuticals in a research report on Tuesday, February 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $37.17.

Kiniksa Pharmaceuticals Stock Up 2.0 %

KNSA opened at $22.61 on Thursday. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -161.49 and a beta of 0.48. Kiniksa Pharmaceuticals has a twelve month low of $16.56 and a twelve month high of $28.15. The company’s 50-day moving average price is $19.95 and its two-hundred day moving average price is $22.22.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. The business had revenue of $122.50 million during the quarter, compared to the consensus estimate of $123.42 million. During the same period last year, the business posted $0.35 earnings per share. The firm’s quarterly revenue was up 46.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Kiniksa Pharmaceuticals will post -0.55 earnings per share for the current year.

Insider Buying and Selling at Kiniksa Pharmaceuticals

In related news, COO Eben Tessari sold 14,000 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $18.24, for a total value of $255,360.00. Following the sale, the chief operating officer now owns 88,975 shares in the company, valued at approximately $1,622,904. This trade represents a 13.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Ragosa sold 36,372 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $22.25, for a total value of $809,277.00. Following the transaction, the chief financial officer now owns 22,958 shares of the company’s stock, valued at approximately $510,815.50. The trade was a 61.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,423 shares of company stock valued at $1,541,812 in the last three months. Company insiders own 54.57% of the company’s stock.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new stake in Kiniksa Pharmaceuticals during the third quarter valued at approximately $50,000. Lazard Asset Management LLC purchased a new position in Kiniksa Pharmaceuticals in the fourth quarter worth $61,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Kiniksa Pharmaceuticals in the third quarter worth $189,000. KLP Kapitalforvaltning AS purchased a new position in Kiniksa Pharmaceuticals in the fourth quarter worth $158,000. Finally, Bellevue Group AG bought a new position in Kiniksa Pharmaceuticals in the fourth quarter valued at $160,000. 53.95% of the stock is owned by hedge funds and other institutional investors.

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.