Kiniksa Pharmaceuticals (NASDAQ:KNSA) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $34.00 target price on the stock.

Several other research firms also recently issued reports on KNSA. TheStreet upgraded shares of Kiniksa Pharmaceuticals from a d+ rating to a c rating in a report on Thursday, February 29th. JPMorgan Chase & Co. lifted their price target on shares of Kiniksa Pharmaceuticals from $26.00 to $30.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. Wedbush restated an outperform rating and issued a $30.00 price objective on shares of Kiniksa Pharmaceuticals in a report on Tuesday, April 23rd. Finally, Evercore ISI lifted their target price on Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the stock an outperform rating in a report on Wednesday, April 24th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of Buy and a consensus price target of $31.00.

Kiniksa Pharmaceuticals Price Performance

Shares of NASDAQ:KNSA opened at $19.99 on Friday. Kiniksa Pharmaceuticals has a one year low of $12.94 and a one year high of $22.09. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 181.74 and a beta of 0.32. The firm has a 50 day simple moving average of $19.15 and a 200 day simple moving average of $18.16.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $79.90 million during the quarter, compared to the consensus estimate of $76.97 million. During the same quarter in the previous year, the company posted ($0.18) earnings per share. The firm’s revenue was up 65.4% on a year-over-year basis. As a group, analysts expect that Kiniksa Pharmaceuticals will post -0.1 EPS for the current year.

Insider Buying and Selling

In other Kiniksa Pharmaceuticals news, CEO Sanj K. Patel sold 5,582 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $21.00, for a total transaction of $117,222.00. Following the sale, the chief executive officer now owns 65,012 shares of the company’s stock, valued at $1,365,252. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 sale, the chief executive officer now owns 70,594 shares in the company, valued at approximately $1,517,065.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanj K. Patel sold 5,582 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $21.00, for a total transaction of $117,222.00. Following the transaction, the chief executive officer now directly owns 65,012 shares in the company, valued at $1,365,252. The disclosure for this sale can be found here. Insiders sold 33,109 shares of company stock valued at $709,929 over the last quarter. Insiders own 54.57% of the company’s stock.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Essex Investment Management Co. LLC increased its position in Kiniksa Pharmaceuticals by 0.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 172,740 shares of the company’s stock valued at $3,408,000 after buying an additional 850 shares in the last quarter. Tejara Capital Ltd grew its stake in Kiniksa Pharmaceuticals by 3.2% in the third quarter. Tejara Capital Ltd now owns 35,000 shares of the company’s stock valued at $608,000 after acquiring an additional 1,069 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Kiniksa Pharmaceuticals by 5.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,935 shares of the company’s stock valued at $413,000 after acquiring an additional 1,153 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Kiniksa Pharmaceuticals by 8.1% in the 1st quarter. SG Americas Securities LLC now owns 19,160 shares of the company’s stock worth $378,000 after purchasing an additional 1,435 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Kiniksa Pharmaceuticals by 1.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 147,182 shares of the company’s stock valued at $2,582,000 after purchasing an additional 1,540 shares during the period. Institutional investors and hedge funds own 53.95% of the company’s stock.

About Kiniksa Pharmaceuticals

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.