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

Kiniksa Pharmaceuticals (NASDAQ:KNSA)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research report issued on Wednesday, MarketBeat.com reports. They presently have a $34.00 price target on the stock. Wedbush’s target price suggests a potential upside of 68.23% from the stock’s current price.

Separately, Citigroup started coverage on shares of Kiniksa Pharmaceuticals in a report on Thursday, March 13th. They issued a “buy” rating and a $40.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $37.17.

Kiniksa Pharmaceuticals Price Performance

KNSA opened at $20.21 on Wednesday. The firm has a market cap of $1.47 billion, a P/E ratio of -144.35 and a beta of 0.31. Kiniksa Pharmaceuticals has a 1-year low of $16.56 and a 1-year high of $28.15. The company has a 50 day simple moving average of $21.04 and a two-hundred day simple moving average of $21.53.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last posted its quarterly 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). Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. The business had revenue of $122.50 million for the quarter, compared to the consensus estimate of $123.42 million. During the same period in the prior year, the business earned $0.35 earnings per share. Kiniksa Pharmaceuticals’s revenue was up 46.9% compared to the same quarter last year. Equities analysts anticipate that Kiniksa Pharmaceuticals will post -0.55 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Mark Ragosa sold 36,372 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $22.25, for a total transaction of $809,277.00. Following the transaction, the chief financial officer now directly owns 22,958 shares in the company, valued at approximately $510,815.50. This represents a 61.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Eben Tessari sold 12,000 shares of the firm’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $20.48, for a total transaction of $245,760.00. Following the completion of the sale, the chief operating officer now directly owns 77,363 shares of the company’s stock, valued at approximately $1,584,394.24. The trade was a 13.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,766 shares of company stock worth $2,002,135. Corporate insiders own 54.57% of the company’s stock.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in shares of Kiniksa Pharmaceuticals by 84.8% during the first quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $27,000 after purchasing an additional 568 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Kiniksa Pharmaceuticals during the 4th quarter valued at about $61,000. KLP Kapitalforvaltning AS bought a new stake in Kiniksa Pharmaceuticals during the 4th quarter valued at about $158,000. Bellevue Group AG purchased a new stake in Kiniksa Pharmaceuticals in the 4th quarter valued at about $160,000. Finally, Tower Research Capital LLC TRC grew its stake in Kiniksa Pharmaceuticals by 117.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,483 shares of the company’s stock worth $168,000 after acquiring an additional 4,575 shares in the last quarter. 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.