Wedbush Comments on Kiniksa Pharmaceuticals, Ltd.’s Q3 2024 Earnings (NASDAQ:KNSA)

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) – Research analysts at Wedbush lifted their Q3 2024 earnings estimates for shares of Kiniksa Pharmaceuticals in a research report issued to clients and investors on Tuesday, July 23rd. Wedbush analyst D. Nierengarten now expects that the company will earn $0.06 per share for the quarter, up from their previous forecast of ($0.02). Wedbush currently has a “Outperform” rating and a $34.00 target price on the stock. The consensus estimate for Kiniksa Pharmaceuticals’ current full-year earnings is ($0.05) per share. Wedbush also issued estimates for Kiniksa Pharmaceuticals’ Q4 2024 earnings at $0.08 EPS, FY2024 earnings at ($0.16) EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.18 EPS, Q4 2025 earnings at $0.22 EPS, FY2025 earnings at $0.67 EPS, FY2026 earnings at $1.22 EPS and FY2027 earnings at $1.63 EPS.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.03. Kiniksa Pharmaceuticals had a negative net margin of 3.10% and a negative return on equity of 7.83%. The company had revenue of $108.30 million for the quarter, compared to analyst estimates of $90.60 million. During the same quarter in the prior year, the business posted ($0.02) EPS. Kiniksa Pharmaceuticals’s quarterly revenue was up 51.5% on a year-over-year basis.

A number of other research firms have also issued reports on KNSA. JPMorgan Chase & Co. raised their target price on shares of Kiniksa Pharmaceuticals from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Wells Fargo & Company began coverage on shares of Kiniksa Pharmaceuticals in a research note on Friday, May 3rd. They issued an “overweight” rating and a $34.00 target price on the stock. Finally, Evercore ISI raised their target price on shares of Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $32.00.

Kiniksa Pharmaceuticals Trading Up 0.8 %

NASDAQ:KNSA opened at $26.12 on Friday. Kiniksa Pharmaceuticals has a 1 year low of $14.12 and a 1 year high of $27.88. The firm’s fifty day simple moving average is $19.97 and its 200 day simple moving average is $19.47. The firm has a market capitalization of $1.85 billion, a PE ratio of 237.48 and a beta of 0.38.

Insiders Place Their Bets

In other Kiniksa Pharmaceuticals news, CEO Sanj K. Patel sold 136,124 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $25.65, for a total value of $3,491,580.60. Following the sale, the chief executive officer now directly owns 63,012 shares in the company, valued at approximately $1,616,257.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John F. Paolini sold 22,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $26.32, for a total transaction of $579,040.00. Following the completion of the transaction, the insider now directly owns 47,803 shares of the company’s stock, valued at approximately $1,258,174.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanj K. Patel sold 136,124 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $25.65, for a total transaction of $3,491,580.60. Following the transaction, the chief executive officer now directly owns 63,012 shares of the company’s stock, valued at $1,616,257.80. The disclosure for this sale can be found here. Insiders have sold 182,372 shares of company stock worth $4,671,729 in the last ninety days. Insiders own 54.57% of the company’s stock.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in KNSA. Hhlr Advisors LTD. bought a new position in shares of Kiniksa Pharmaceuticals during the 1st quarter worth about $61,868,000. Altitude Crest Partners Inc. bought a new position in Kiniksa Pharmaceuticals during the 4th quarter valued at about $7,999,000. Peregrine Capital Management LLC bought a new position in Kiniksa Pharmaceuticals during the 1st quarter valued at about $4,657,000. Granahan Investment Management LLC lifted its holdings in Kiniksa Pharmaceuticals by 35.2% during the 4th quarter. Granahan Investment Management LLC now owns 722,388 shares of the company’s stock valued at $12,671,000 after purchasing an additional 188,174 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new position in Kiniksa Pharmaceuticals during the 1st quarter valued at about $3,107,000. 53.95% of the stock is owned by 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.