Wedbush Reiterates “Outperform” Rating for Kiniksa Pharmaceuticals (NASDAQ:KNSA)

Kiniksa Pharmaceuticals (NASDAQ:KNSA)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a research note issued on Tuesday,RTT News reports. They presently have a $34.00 price objective on the stock. Wedbush’s price objective indicates a potential upside of 70.64% from the company’s previous close.

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

Kiniksa Pharmaceuticals Trading Up 1.5 %

NASDAQ KNSA traded up $0.30 on Tuesday, hitting $19.93. 242,053 shares of the company traded hands, compared to its average volume of 537,155. The business’s 50 day moving average price is $19.69 and its 200-day moving average price is $22.63. Kiniksa Pharmaceuticals has a 52-week low of $16.56 and a 52-week high of $28.15. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -142.31 and a beta of 0.32.

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

Insider Transactions at Kiniksa Pharmaceuticals

In related news, COO Eben Tessari sold 14,000 shares of Kiniksa Pharmaceuticals stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $18.24, for a total transaction of $255,360.00. Following the completion of the transaction, the chief operating officer now directly owns 88,975 shares of the company’s stock, valued at approximately $1,622,904. The trade was a 13.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Ragosa sold 8,969 shares of Kiniksa Pharmaceuticals stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $21.45, for a total transaction of $192,385.05. Following the sale, the chief financial officer now owns 22,958 shares of the company’s stock, valued at $492,449.10. The trade was a 28.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,092 shares of company stock worth $745,589. 54.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in Kiniksa Pharmaceuticals in the third quarter worth about $50,000. Lazard Asset Management LLC bought a new stake in shares of Kiniksa Pharmaceuticals in the 4th quarter valued at about $61,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Kiniksa Pharmaceuticals in the 4th quarter worth approximately $158,000. Bellevue Group AG bought a new position in shares of Kiniksa Pharmaceuticals during the fourth quarter valued at approximately $160,000. Finally, Tower Research Capital LLC TRC increased its holdings in Kiniksa Pharmaceuticals by 117.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,483 shares of the company’s stock valued at $168,000 after buying an additional 4,575 shares during the period. Institutional investors own 53.95% of the company’s stock.

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.