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

Wedbush restated their outperform rating on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a research note released on Tuesday, RTT News reports. They currently have a $30.00 price target on the stock.

Separately, TheStreet raised shares of Kiniksa Pharmaceuticals from a d+ rating to a c rating in a report on Thursday, February 29th.

Kiniksa Pharmaceuticals Stock Performance

Shares of NASDAQ KNSA opened at $17.68 on Tuesday. The firm has a market cap of $1.25 billion, a PE ratio of 98.23 and a beta of 0.27. The firm has a fifty day moving average of $19.36 and a 200 day moving average of $18.00. Kiniksa Pharmaceuticals has a one year low of $10.65 and a one year high of $22.09.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.15. The company had revenue of $83.40 million during the quarter, compared to analyst estimates of $72.31 million. Kiniksa Pharmaceuticals had a net margin of 5.11% and a negative return on equity of 6.12%. On average, equities analysts predict that Kiniksa Pharmaceuticals will post -0.06 EPS for the current fiscal year.

Insider Activity at Kiniksa Pharmaceuticals

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

Institutional Trading of Kiniksa Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc acquired a new stake in shares of Kiniksa Pharmaceuticals during the third quarter worth about $65,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Kiniksa Pharmaceuticals by 349.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,097 shares of the company’s stock worth $72,000 after buying an additional 3,186 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Kiniksa Pharmaceuticals during the third quarter worth approximately $176,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Kiniksa Pharmaceuticals during the fourth quarter worth approximately $213,000. Finally, QRG Capital Management Inc. purchased a new stake in shares of Kiniksa Pharmaceuticals during the third quarter worth approximately $249,000. Institutional investors and hedge funds 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.