Kiniksa Pharmaceuticals (NASDAQ:KNSA) Announces Earnings Results

Kiniksa Pharmaceuticals (NASDAQ:KNSA) announced its quarterly earnings results on Tuesday. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06), Zacks reports. Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. The business had revenue of $122.50 million for the quarter, compared to analysts’ expectations of $123.42 million. During the same period last year, the firm earned $0.35 earnings per share. The firm’s quarterly revenue was up 46.9% on a year-over-year basis.

Kiniksa Pharmaceuticals Stock Down 1.1 %

NASDAQ:KNSA traded down $0.22 during midday trading on Tuesday, reaching $19.42. The stock had a trading volume of 69,028 shares, compared to its average volume of 533,084. The stock has a market cap of $1.40 billion, a P/E ratio of -138.67 and a beta of 0.32. The firm has a fifty day simple moving average of $19.69 and a two-hundred day simple moving average of $22.63. Kiniksa Pharmaceuticals has a 12-month low of $16.56 and a 12-month high of $28.15.

Insiders Place Their Bets

In other news, CFO Mark Ragosa sold 8,969 shares of the business’s 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 transaction, the chief financial officer now directly owns 22,958 shares in the company, valued at $492,449.10. The trade was a 28.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Eben Tessari sold 14,000 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $19.57, for a total transaction of $273,980.00. Following the transaction, the chief operating officer now directly owns 81,975 shares of the company’s stock, valued at $1,604,250.75. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,092 shares of company stock worth $745,589. 54.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on KNSA shares. Wedbush reaffirmed an “outperform” rating and issued a $34.00 price target on shares of Kiniksa Pharmaceuticals in a report on Monday, January 13th. JPMorgan Chase & Co. raised their price objective on shares of Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, 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 note on Wednesday, October 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $36.60.

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.