Kiniksa Pharmaceuticals (NASDAQ:KNSA) Earns Buy Rating from Analysts at Citigroup

Equities research analysts at Citigroup initiated coverage on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a report issued on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. Citigroup’s price objective indicates a potential upside of 77.78% from the company’s previous close.

Separately, Wedbush reiterated an “outperform” rating and set a $34.00 price objective on shares of Kiniksa Pharmaceuticals in a research note on Tuesday, February 25th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $37.17.

Kiniksa Pharmaceuticals Trading Up 4.4 %

Shares of NASDAQ:KNSA opened at $22.50 on Thursday. The stock has a 50 day moving average of $19.90 and a 200 day moving average of $22.23. The company has a market cap of $1.63 billion, a PE ratio of -160.70 and a beta of 0.48. Kiniksa Pharmaceuticals has a 12-month low of $16.56 and a 12-month high of $28.15.

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

Insider Activity

In related news, COO Eben Tessari sold 14,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $19.57, for a total transaction of $273,980.00. Following the sale, the chief operating officer now owns 81,975 shares in the company, valued at approximately $1,604,250.75. This represents a 14.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 54.57% of the company’s stock.

Institutional Trading of Kiniksa Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in Kiniksa Pharmaceuticals during the 3rd quarter valued at $50,000. Lazard Asset Management LLC purchased a new stake in Kiniksa Pharmaceuticals during the 4th quarter valued at $61,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Kiniksa Pharmaceuticals during the 3rd quarter valued at $189,000. KLP Kapitalforvaltning AS purchased a new stake in Kiniksa Pharmaceuticals during the 4th quarter valued at $158,000. Finally, Bellevue Group AG purchased a new stake in Kiniksa Pharmaceuticals during the 4th quarter valued at $160,000. Hedge funds and other 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.