Kiniksa Pharmaceuticals (NASDAQ:KNSA) Raised to Buy at Wall Street Zen

Kiniksa Pharmaceuticals (NASDAQ:KNSA) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research analysts have also commented on KNSA. Citigroup began coverage on Kiniksa Pharmaceuticals in a research report on Thursday, March 13th. They issued a “buy” rating and a $40.00 target price for the company. Jefferies Financial Group raised their price objective on Kiniksa Pharmaceuticals from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Kiniksa Pharmaceuticals in a report on Wednesday, April 16th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $38.80.

Kiniksa Pharmaceuticals Price Performance

NASDAQ KNSA opened at $28.30 on Friday. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -202.13 and a beta of 0.06. Kiniksa Pharmaceuticals has a 12 month low of $17.38 and a 12 month high of $30.69. The company’s fifty day moving average price is $25.12 and its two-hundred day moving average price is $22.17.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last issued its earnings results on Tuesday, April 29th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. The business had revenue of $137.79 million for the quarter, compared to analyst estimates of $128.35 million. Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. The company’s revenue for the quarter was up 72.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.25) EPS. As a group, analysts anticipate that Kiniksa Pharmaceuticals will post -0.55 EPS for the current year.

Insider Transactions at Kiniksa Pharmaceuticals

In other news, Director Barry D. Quart sold 8,212 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $30.36, for a total transaction of $249,316.32. Following the completion of the transaction, the director now owns 12,546 shares in the company, valued at approximately $380,896.56. This represents a 39.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ross Moat sold 64,035 shares of Kiniksa Pharmaceuticals stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $25.21, for a total transaction of $1,614,322.35. Following the completion of the sale, the insider now owns 9,415 shares in the company, valued at approximately $237,352.15. This represents a 87.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 432,442 shares of company stock worth $11,816,889. 53.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its position in Kiniksa Pharmaceuticals by 84.8% in the 1st quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $27,000 after acquiring an additional 568 shares during the period. US Bancorp DE bought a new position in shares of Kiniksa Pharmaceuticals in the first quarter worth $33,000. Asset Management One Co. Ltd. bought a new position in shares of Kiniksa Pharmaceuticals in the first quarter worth $41,000. Wealthquest Corp acquired a new position in shares of Kiniksa Pharmaceuticals during the first quarter valued at $42,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Kiniksa Pharmaceuticals during the fourth quarter valued at about $61,000. 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.