Kiniksa Pharmaceuticals (NASDAQ:KNSA) Given Outperform Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a report published on Monday morning,RTT News reports. They currently have a $34.00 price target on the stock.

A number of other research firms have also recently weighed in on KNSA. Evercore ISI upped their target price on shares of Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Kiniksa Pharmaceuticals presently has an average rating of “Buy” and an average price target of $36.60.

Kiniksa Pharmaceuticals Price Performance

Shares of Kiniksa Pharmaceuticals stock opened at $18.17 on Monday. The company has a market cap of $1.31 billion, a PE ratio of -129.78 and a beta of 0.29. The firm has a fifty day moving average price of $21.08 and a two-hundred day moving average price of $23.28. Kiniksa Pharmaceuticals has a fifty-two week low of $16.56 and a fifty-two week 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 for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.17). Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. The firm had revenue of $112.21 million for the quarter, compared to analyst estimates of $111.51 million. During the same period last year, the business earned ($0.20) earnings per share. The firm’s quarterly revenue was up 67.4% compared to the same quarter last year. Analysts expect that Kiniksa Pharmaceuticals will post -0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Kiniksa Pharmaceuticals news, CFO Mark Ragosa sold 8,969 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $21.45, for a total value of $192,385.05. Following the transaction, the chief financial officer now owns 22,958 shares of the company’s stock, valued at approximately $492,449.10. The trade was a 28.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 54.57% of the company’s stock.

Institutional Trading of Kiniksa Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in KNSA. Braidwell LP grew its holdings in Kiniksa Pharmaceuticals by 40.6% during the 3rd quarter. Braidwell LP now owns 2,894,513 shares of the company’s stock worth $72,334,000 after acquiring an additional 836,210 shares during the last quarter. Rubric Capital Management LP grew its stake in shares of Kiniksa Pharmaceuticals by 10.2% during the second quarter. Rubric Capital Management LP now owns 2,419,103 shares of the company’s stock valued at $45,165,000 after purchasing an additional 223,094 shares during the last quarter. Parkman Healthcare Partners LLC increased its holdings in shares of Kiniksa Pharmaceuticals by 16.7% in the third quarter. Parkman Healthcare Partners LLC now owns 755,244 shares of the company’s stock valued at $18,874,000 after purchasing an additional 108,102 shares in the last quarter. FMR LLC raised its position in Kiniksa Pharmaceuticals by 36,925.0% in the 3rd quarter. FMR LLC now owns 696,810 shares of the company’s stock worth $17,413,000 after purchasing an additional 694,928 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings 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 buying an additional 157,741 shares in the last quarter. 53.95% of the stock is currently owned by institutional investors and hedge funds.

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.