Kiniksa Pharmaceuticals (NASDAQ:KNSA) Downgraded by Zacks Investment Research to “Sell”

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Zacks Investment Research downgraded shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) from a hold rating to a sell rating in a research report sent to investors on Thursday, Zacks.com reports.

According to Zacks, “Kiniksa Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company. It focuses on discovering, acquiring, developing and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical need. Kiniksa Pharmaceuticals Ltd. is based in Massachusetts, United States. “

Several other research firms also recently commented on KNSA. ValuEngine downgraded shares of Kiniksa Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Wednesday, January 15th. Goldman Sachs Group raised shares of Kiniksa Pharmaceuticals from a neutral rating to a buy rating and boosted their price objective for the company from $16.00 to $18.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $21.75.

Shares of KNSA opened at $15.45 on Thursday. Kiniksa Pharmaceuticals has a 52 week low of $5.01 and a 52 week high of $25.79. The firm has a market cap of $847.86 million, a P/E ratio of -4.65 and a beta of -0.95. The firm’s 50-day simple moving average is $12.37 and its 200 day simple moving average is $10.26.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.49) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.23. Analysts anticipate that Kiniksa Pharmaceuticals will post -2.99 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. raised its holdings in Kiniksa Pharmaceuticals by 300.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 140,000 shares of the company’s stock valued at $1,191,000 after acquiring an additional 105,000 shares in the last quarter. Northern Trust Corp increased its position in shares of Kiniksa Pharmaceuticals by 17.1% in the second quarter. Northern Trust Corp now owns 154,899 shares of the company’s stock worth $2,097,000 after purchasing an additional 22,645 shares during the period. Morgan Stanley increased its position in shares of Kiniksa Pharmaceuticals by 54.2% in the second quarter. Morgan Stanley now owns 60,098 shares of the company’s stock worth $814,000 after purchasing an additional 21,130 shares during the period. BlackRock Inc. increased its position in shares of Kiniksa Pharmaceuticals by 14.4% in the second quarter. BlackRock Inc. now owns 1,107,091 shares of the company’s stock worth $14,990,000 after purchasing an additional 139,072 shares during the period. Finally, State Street Corp raised its stake in Kiniksa Pharmaceuticals by 4.2% in the third quarter. State Street Corp now owns 229,477 shares of the company’s stock valued at $1,953,000 after purchasing an additional 9,282 shares in the last quarter. 29.85% of the stock is currently owned by institutional investors and hedge funds.

About Kiniksa Pharmaceuticals

Kiniksa Pharmaceuticals, Ltd., a clinical-stage biopharmaceutical company, focuses on the discovering, acquiring, developing, and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical need worldwide. Its clinical-stage product candidates include Rilonacept, which is in Phase II clinical trials for the treatment of recurrent pericarditis, an inflammatory cardiovascular disease; Mavrilimumab, a monoclonal antibody for the treatment of giant cell arteritis; and KPL-716, a monoclonal antibody, which is in Phase 1a/1b clinical trial for the treatment of prurigo nodularis and atopic dermatitis.

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