Kiniksa Pharmaceuticals (NASDAQ:KNSA) Price Target Raised to $40.00

Kiniksa Pharmaceuticals (NASDAQ:KNSA) had its target price hoisted by JPMorgan Chase & Co. from $39.00 to $40.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Kiniksa Pharmaceuticals in a research report on Friday, September 13th. They set a “buy” rating and a $40.00 price target on the stock. Wedbush upped their price objective on shares of Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Evercore ISI increased their price target on Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kiniksa Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $36.60.

Kiniksa Pharmaceuticals Stock Down 0.7 %

Shares of KNSA opened at $22.86 on Tuesday. Kiniksa Pharmaceuticals has a 12 month low of $14.12 and a 12 month high of $28.15. The firm’s 50 day moving average is $24.96 and its 200-day moving average is $22.65.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.17). The firm had revenue of $112.21 million for the quarter, compared to analyst estimates of $111.51 million. Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. The firm’s revenue for the quarter was up 67.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. As a group, research analysts anticipate that Kiniksa Pharmaceuticals will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Kiniksa Pharmaceuticals

In other Kiniksa Pharmaceuticals news, COO Eben Tessari sold 17,500 shares of Kiniksa Pharmaceuticals stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $26.91, for a total transaction of $470,925.00. Following the completion of the sale, the chief operating officer now directly owns 119,911 shares in the company, valued at $3,226,805.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Kiniksa Pharmaceuticals news, insider John F. Paolini sold 60,692 shares of Kiniksa Pharmaceuticals stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $26.12, for a total transaction of $1,585,275.04. Following the transaction, the insider now directly owns 52,038 shares of the company’s stock, valued at approximately $1,359,232.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Eben Tessari sold 17,500 shares of Kiniksa Pharmaceuticals stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $26.91, for a total transaction of $470,925.00. Following the transaction, the chief operating officer now directly owns 119,911 shares in the company, valued at $3,226,805.01. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,692 shares of company stock worth $2,950,315 over the last three months. 54.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in KNSA. CWM LLC raised its stake in shares of Kiniksa Pharmaceuticals by 443.0% during the third quarter. CWM LLC now owns 2,449 shares of the company’s stock worth $61,000 after acquiring an additional 1,998 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Kiniksa Pharmaceuticals in the first quarter worth $71,000. nVerses Capital LLC purchased a new position in shares of Kiniksa Pharmaceuticals in the third quarter worth $80,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Kiniksa Pharmaceuticals in the second quarter worth $100,000. Finally, Lynx1 Capital Management LP purchased a new position in shares of Kiniksa Pharmaceuticals in the second quarter worth $177,000. 53.95% of the stock is owned by hedge funds and other institutional investors.

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.