Kiniksa Pharmaceuticals (NASDAQ:KNSA) Earns “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a research note published on Monday,RTT News reports. The firm currently has a $34.00 price objective on the stock.

KNSA has been the subject of several other reports. Evercore ISI increased 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. JPMorgan Chase & Co. increased their target price on Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $36.60.

Kiniksa Pharmaceuticals Trading Down 8.8 %

Kiniksa Pharmaceuticals stock opened at $18.17 on Monday. The firm has a market capitalization of $1.31 billion, a P/E ratio of -129.78 and a beta of 0.29. The business has a 50-day moving average of $21.08 and a 200-day moving average of $23.28. Kiniksa Pharmaceuticals has a 1 year low of $16.56 and a 1 year high of $28.15.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly 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 the consensus estimate of $111.51 million. During the same period in the prior year, the business earned ($0.20) earnings per share. The company’s revenue for the quarter was up 67.4% compared to the same quarter last year. Research analysts anticipate that Kiniksa Pharmaceuticals will post -0.55 EPS for the current fiscal year.

Insider Activity at Kiniksa Pharmaceuticals

In other Kiniksa Pharmaceuticals news, CFO Mark Ragosa sold 8,969 shares of Kiniksa Pharmaceuticals stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $21.45, for a total value of $192,385.05. Following the sale, the chief financial officer now directly owns 22,958 shares in the company, valued at approximately $492,449.10. The trade was a 28.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 54.57% of the stock is owned by insiders.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP acquired a new position in Kiniksa Pharmaceuticals during the third quarter valued at approximately $1,192,000. Dimensional Fund Advisors LP raised its stake in shares of 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 in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Kiniksa Pharmaceuticals in the third quarter valued at $675,000. Parkman Healthcare Partners LLC increased its holdings in Kiniksa Pharmaceuticals by 16.7% during the third quarter. Parkman Healthcare Partners LLC now owns 755,244 shares of the company’s stock worth $18,874,000 after buying an additional 108,102 shares during the last quarter. Finally, Millennium Management LLC raised its position in Kiniksa Pharmaceuticals by 159.8% during the second quarter. Millennium Management LLC now owns 621,948 shares of the company’s stock worth $11,612,000 after acquiring an additional 382,539 shares in the last quarter. Institutional investors 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.