Canaccord Genuity Group Begins Coverage on Kiniksa Pharmaceuticals International (NASDAQ:KNSA)

Investment analysts at Canaccord Genuity Group assumed coverage on shares of Kiniksa Pharmaceuticals International (NASDAQ:KNSA) in a research note issued to investors on Thursday, Marketbeat reports. The firm set a “buy” rating and a $62.00 price target on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 29.79% from the company’s current price.

Other analysts also recently issued reports about the company. Zacks Research downgraded Kiniksa Pharmaceuticals International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Wedbush lifted their price target on Kiniksa Pharmaceuticals International from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 13th. Wall Street Zen cut shares of Kiniksa Pharmaceuticals International from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. The Goldman Sachs Group increased their price target on shares of Kiniksa Pharmaceuticals International from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Kiniksa Pharmaceuticals International in a research report on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Kiniksa Pharmaceuticals International currently has an average rating of “Moderate Buy” and an average target price of $53.71.

Kiniksa Pharmaceuticals International Price Performance

Shares of NASDAQ:KNSA opened at $47.77 on Thursday. The business’s 50 day simple moving average is $42.72 and its 200-day simple moving average is $39.37. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 106.16 and a beta of 0.06. Kiniksa Pharmaceuticals International has a 12 month low of $18.25 and a 12 month high of $47.86.

Insider Activity at Kiniksa Pharmaceuticals International

In related news, CFO Mark Ragosa sold 42,841 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $41.49, for a total value of $1,777,473.09. Following the sale, the chief financial officer directly owned 31,086 shares of the company’s stock, valued at approximately $1,289,758.14. This trade represents a 57.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Eben Tessari sold 12,048 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $41.56, for a total transaction of $500,714.88. Following the completion of the sale, the chief operating officer owned 16,666 shares of the company’s stock, valued at approximately $692,638.96. The trade was a 41.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 123,823 shares of company stock worth $5,244,967. 53.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals International

A number of hedge funds have recently made changes to their positions in KNSA. Amundi acquired a new stake in shares of Kiniksa Pharmaceuticals International during the 1st quarter worth $348,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Kiniksa Pharmaceuticals International by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,843 shares of the company’s stock valued at $507,000 after acquiring an additional 1,002 shares during the period. Millennium Management LLC increased its stake in Kiniksa Pharmaceuticals International by 8.7% during the first quarter. Millennium Management LLC now owns 847,124 shares of the company’s stock worth $18,815,000 after acquiring an additional 67,452 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Kiniksa Pharmaceuticals International by 624.2% in the 2nd quarter. Asset Management One Co. Ltd. now owns 13,470 shares of the company’s stock worth $373,000 after purchasing an additional 11,610 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Kiniksa Pharmaceuticals International in the 2nd quarter worth about $1,648,000. Institutional investors and hedge funds own 53.95% of the company’s stock.

About Kiniksa Pharmaceuticals International

Kiniksa Pharmaceuticals International, Inc is a biopharmaceutical company focused on discovering, acquiring and developing therapeutics for patients suffering from lifethreatening and debilitating immune-mediated diseases. Founded in 2013 and headquartered in Lexington, Massachusetts, Kiniksa applies a patient-centric approach to build a diversified portfolio of marketed medicines and clinical-stage candidates targeting inflammation and immunology. The company’s core mission is to address complex conditions with significant unmet medical needs by advancing both novel and differentiated therapies.

The company’s lead marketed product is Ilaris (canakinumab), an interleukin-1β blocker licensed for the treatment of cryopyrin-associated periodic syndromes, systemic juvenile idiopathic arthritis, adult-onset Still’s disease and Schnitzler syndrome.