Kiniksa Pharmaceuticals (NASDAQ:KNSA) Shares Up 4.8%

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) shot up 4.8% during trading on Tuesday . The stock traded as high as $19.00 and last traded at $18.86. 83,765 shares changed hands during trading, a decline of 79% from the average session volume of 394,420 shares. The stock had previously closed at $18.00.

Analyst Ratings Changes

Several research firms recently commented on KNSA. JPMorgan Chase & Co. boosted their price objective on shares of Kiniksa Pharmaceuticals from $26.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Wells Fargo & Company assumed coverage on shares of Kiniksa Pharmaceuticals in a research note on Friday, May 3rd. They set an “overweight” rating and a $34.00 price objective for the company. Evercore ISI upped their price target on shares of Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Wedbush restated an “outperform” rating and set a $30.00 price target on shares of Kiniksa Pharmaceuticals in a research note on Tuesday, April 23rd. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $31.00.

Kiniksa Pharmaceuticals Stock Up 1.6 %

The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 170.36 and a beta of 0.38. The stock’s 50 day moving average price is $19.05 and its two-hundred day moving average price is $19.04.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.11). Kiniksa Pharmaceuticals had a negative return on equity of 7.26% and a net margin of 2.78%. The firm had revenue of $79.90 million for the quarter, compared to analysts’ expectations of $76.97 million. During the same period last year, the company posted ($0.18) earnings per share. The business’s quarterly revenue was up 65.4% on a year-over-year basis. On average, analysts predict that Kiniksa Pharmaceuticals, Ltd. will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC purchased a new position in Kiniksa Pharmaceuticals during the first quarter valued at $71,000. China Universal Asset Management Co. Ltd. lifted its holdings in Kiniksa Pharmaceuticals by 349.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,097 shares of the company’s stock valued at $72,000 after purchasing an additional 3,186 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Kiniksa Pharmaceuticals during the fourth quarter valued at $213,000. Bayesian Capital Management LP purchased a new position in Kiniksa Pharmaceuticals during the first quarter valued at $222,000. Finally, Victory Capital Management Inc. lifted its holdings in Kiniksa Pharmaceuticals by 45.0% during the fourth quarter. Victory Capital Management Inc. now owns 14,653 shares of the company’s stock valued at $257,000 after purchasing an additional 4,547 shares in the last quarter. 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.