Principal Financial Group Inc. Raises Stake in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Principal Financial Group Inc. raised its position in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSAFree Report) by 42.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,991 shares of the company’s stock after purchasing an additional 17,659 shares during the period. Principal Financial Group Inc. owned 0.08% of Kiniksa Pharmaceuticals worth $1,164,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Altitude Crest Partners Inc. acquired a new position in Kiniksa Pharmaceuticals in the fourth quarter valued at approximately $7,999,000. Peregrine Capital Management LLC acquired a new position in shares of Kiniksa Pharmaceuticals in the 1st quarter valued at $4,657,000. Granahan Investment Management LLC grew its position in shares of Kiniksa Pharmaceuticals by 35.2% in the 4th quarter. Granahan Investment Management LLC now owns 722,388 shares of the company’s stock valued at $12,671,000 after buying an additional 188,174 shares during the last quarter. Parkman Healthcare Partners LLC lifted its position in Kiniksa Pharmaceuticals by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 615,693 shares of the company’s stock valued at $10,799,000 after acquiring an additional 105,883 shares during the last quarter. Finally, ADAR1 Capital Management LLC acquired a new position in Kiniksa Pharmaceuticals in the fourth quarter valued at $1,842,000. 53.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Evercore ISI lifted their target price on Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. raised their target price on shares of Kiniksa Pharmaceuticals from $26.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Wells Fargo & Company started coverage on shares of Kiniksa Pharmaceuticals in a research note on Friday, May 3rd. They set an “overweight” rating and a $34.00 price target for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Kiniksa Pharmaceuticals in a report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kiniksa Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $31.00.

Read Our Latest Research Report on KNSA

Kiniksa Pharmaceuticals Stock Up 1.4 %

Shares of NASDAQ KNSA opened at $19.36 on Friday. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 176.02 and a beta of 0.38. The firm has a 50-day moving average price of $19.15 and a 200 day moving average price of $19.05. Kiniksa Pharmaceuticals, Ltd. has a 52 week low of $13.56 and a 52 week high of $22.09.

Kiniksa Pharmaceuticals (NASDAQ:KNSAGet Free Report) last posted its earnings results on Tuesday, April 23rd. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.11). Kiniksa Pharmaceuticals had a net margin of 2.78% and a negative return on equity of 7.26%. The business had revenue of $79.90 million for the quarter, compared to analysts’ expectations of $76.97 million. During the same quarter last year, the business posted ($0.18) earnings per share. The business’s revenue was up 65.4% compared to the same quarter last year. Equities research analysts expect that Kiniksa Pharmaceuticals, Ltd. will post -0.1 EPS for the current fiscal year.

Kiniksa Pharmaceuticals Company Profile

(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.

See Also

Institutional Ownership by Quarter for Kiniksa Pharmaceuticals (NASDAQ:KNSA)

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