Kiniksa Pharmaceuticals (NASDAQ:KNSA) Price Target Raised to $30.00 at Evercore ISI

Kiniksa Pharmaceuticals (NASDAQ:KNSA) had its price objective raised by Evercore ISI from $25.00 to $30.00 in a research note released on Wednesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other brokerages also recently weighed in on KNSA. Wedbush restated an outperform rating and set a $30.00 target price on shares of Kiniksa Pharmaceuticals in a research note on Tuesday. TheStreet raised Kiniksa Pharmaceuticals from a d+ rating to a c rating in a research report on Thursday, February 29th.

Kiniksa Pharmaceuticals Price Performance

Shares of KNSA stock opened at $17.86 on Wednesday. Kiniksa Pharmaceuticals has a 1-year low of $10.65 and a 1-year high of $22.09. The stock’s fifty day moving average price is $19.36 and its 200 day moving average price is $18.00. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 162.38 and a beta of 0.27.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced 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 negative return on equity of 7.32% and a net margin of 2.78%. 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 firm earned ($0.18) earnings per share. The firm’s quarterly revenue was up 65.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Kiniksa Pharmaceuticals will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In other Kiniksa Pharmaceuticals news, CAO Michael R. Megna sold 5,126 shares of Kiniksa Pharmaceuticals stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $21.79, for a total transaction of $111,695.54. Following the completion of the sale, the chief accounting officer now owns 17,588 shares of the company’s stock, valued at approximately $383,242.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Sanj K. Patel sold 12,742 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $21.49, for a total value of $273,825.58. Following the completion of the transaction, the chief executive officer now owns 70,594 shares of the company’s stock, valued at approximately $1,517,065.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Michael R. Megna sold 5,126 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $21.79, for a total value of $111,695.54. Following the completion of the transaction, the chief accounting officer now directly owns 17,588 shares of the company’s stock, valued at approximately $383,242.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,109 shares of company stock valued at $709,929. 54.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Granahan Investment Management LLC raised its holdings in Kiniksa Pharmaceuticals by 35.2% in the 4th quarter. Granahan Investment Management LLC now owns 722,388 shares of the company’s stock worth $12,671,000 after purchasing an additional 188,174 shares during the period. Parkman Healthcare Partners LLC raised its holdings in Kiniksa Pharmaceuticals by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 615,693 shares of the company’s stock worth $10,799,000 after purchasing an additional 105,883 shares during the period. Altitude Crest Partners Inc. acquired a new position in Kiniksa Pharmaceuticals in the 4th quarter worth about $7,999,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Kiniksa Pharmaceuticals by 59.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 256,932 shares of the company’s stock worth $4,463,000 after purchasing an additional 96,288 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Kiniksa Pharmaceuticals by 916.6% in the 3rd quarter. Acadian Asset Management LLC now owns 226,181 shares of the company’s stock worth $3,919,000 after purchasing an additional 203,933 shares during the period. Institutional investors and hedge funds own 53.95% of the company’s stock.

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.