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 report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research firms also recently commented on KNSA. Evercore ISI boosted their price objective on shares of Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Jefferies Financial Group started coverage on shares of Kiniksa Pharmaceuticals in a research note on Friday, September 13th. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Wedbush upped their price target on shares of Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $36.60.

Kiniksa Pharmaceuticals Price Performance

Shares of KNSA opened at $22.86 on Tuesday. Kiniksa Pharmaceuticals has a 1 year low of $14.12 and a 1 year high of $28.15. The company’s 50-day simple moving average is $24.96 and its 200-day simple moving average is $22.65.

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

Insider Activity at Kiniksa Pharmaceuticals

In related news, COO Eben Tessari sold 17,500 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $24.99, for a total value of $437,325.00. Following the completion of the transaction, the chief operating officer now owns 116,975 shares in the company, valued at $2,923,205.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Eben Tessari sold 17,500 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $24.99, for a total transaction of $437,325.00. Following the completion of the sale, the chief operating officer now directly owns 116,975 shares of the company’s stock, valued at $2,923,205.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John F. Paolini sold 60,692 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $26.12, for a total value of $1,585,275.04. Following the sale, the insider now directly owns 52,038 shares of the company’s stock, valued at $1,359,232.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,692 shares of company stock valued at $2,950,315 over the last 90 days. 54.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Kiniksa Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC raised its position in Kiniksa Pharmaceuticals by 167.8% in the 1st quarter. Acadian Asset Management LLC now owns 164,568 shares of the company’s stock valued at $3,240,000 after purchasing an additional 103,120 shares during the last quarter. Sei Investments Co. acquired a new position in Kiniksa Pharmaceuticals in the 1st quarter worth $1,450,000. Dimensional Fund Advisors LP boosted its stake in Kiniksa Pharmaceuticals by 31.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 664,040 shares of the company’s stock worth $12,398,000 after purchasing an additional 157,741 shares during the period. SG Americas Securities LLC boosted its stake in 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 during the period. Finally, Millennium Management LLC boosted its stake in shares of Kiniksa Pharmaceuticals by 159.8% during the 2nd quarter. Millennium Management LLC now owns 621,948 shares of the company’s stock worth $11,612,000 after buying an additional 382,539 shares during the last quarter. 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.