Kiniksa Pharmaceuticals’ (KNSA) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSAFree Report) in a research report released on Tuesday, RTT News reports. Wedbush currently has a $30.00 price objective on the stock, up from their prior price objective of $28.00.

Separately, TheStreet upgraded Kiniksa Pharmaceuticals from a d+ rating to a c rating in a research note on Thursday, February 29th.

Read Our Latest Stock Analysis on Kiniksa Pharmaceuticals

Kiniksa Pharmaceuticals Stock Performance

NASDAQ:KNSA opened at $18.73 on Tuesday. The stock has a 50-day simple moving average of $19.72 and a 200 day simple moving average of $17.93. The company has a market cap of $1.32 billion, a PE ratio of 104.06 and a beta of 0.27. Kiniksa Pharmaceuticals has a 52-week low of $10.29 and a 52-week high of $22.09.

Kiniksa Pharmaceuticals (NASDAQ:KNSAGet Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.15. The firm had revenue of $83.40 million during the quarter, compared to the consensus estimate of $72.31 million. Kiniksa Pharmaceuticals had a negative return on equity of 6.12% and a net margin of 5.11%. On average, research analysts predict that Kiniksa Pharmaceuticals will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sanj K. Patel sold 12,742 shares of Kiniksa Pharmaceuticals stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $21.49, for a total transaction of $273,825.58. Following the completion of the sale, the chief executive officer now directly owns 70,594 shares of the company’s stock, valued at approximately $1,517,065.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Kiniksa Pharmaceuticals news, CAO Michael R. Megna sold 5,126 shares of Kiniksa Pharmaceuticals stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $21.79, for a total value of $111,695.54. Following the completion of the transaction, the chief accounting officer now directly owns 17,588 shares of the company’s stock, valued at approximately $383,242.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanj K. Patel sold 12,742 shares of Kiniksa Pharmaceuticals stock in a transaction on Monday, March 4th. The shares were sold at an average price of $21.49, for a total value of $273,825.58. Following the completion of the transaction, the chief executive officer now directly owns 70,594 shares of the company’s stock, valued at $1,517,065.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,109 shares of company stock valued at $709,929. Insiders own 54.23% of the company’s stock.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in Kiniksa Pharmaceuticals by 44.2% in the 2nd quarter. Royal Bank of Canada now owns 3,523 shares of the company’s stock valued at $50,000 after acquiring an additional 1,080 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Kiniksa Pharmaceuticals by 437.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,915 shares of the company’s stock valued at $53,000 after acquiring an additional 4,001 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Kiniksa Pharmaceuticals by 52.2% in the 1st quarter. Lazard Asset Management LLC now owns 5,720 shares of the company’s stock valued at $56,000 after purchasing an additional 1,961 shares during the last quarter. Altshuler Shaham Ltd bought a new position in shares of Kiniksa Pharmaceuticals in the 4th quarter valued at $59,000. Finally, IFP Advisors Inc bought a new position in shares of Kiniksa Pharmaceuticals in the 3rd quarter valued at $65,000. 53.95% of the stock is owned by institutional investors and hedge funds.

About Kiniksa Pharmaceuticals

(Get Free Report)

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.

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