Kiniksa Pharmaceuticals (NASDAQ:KNSA) Receives New Coverage from Analysts at Wells Fargo & Company

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

KNSA has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price objective on Kiniksa Pharmaceuticals from $26.00 to $30.00 and gave the stock an overweight rating in a research report on Wednesday. Wedbush restated an outperform rating and set a $30.00 price objective on shares of Kiniksa Pharmaceuticals in a research report on Tuesday, April 23rd. Evercore ISI boosted their price target on shares of Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the stock an outperform rating in a research note on Wednesday, April 24th. Finally, TheStreet upgraded shares of Kiniksa Pharmaceuticals from a d+ rating to a c rating in a research report on Thursday, February 29th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $31.00.

Kiniksa Pharmaceuticals Stock Performance

Shares of KNSA stock traded up $0.70 on Friday, hitting $20.08. 403,855 shares of the stock traded hands, compared to its average volume of 396,776. Kiniksa Pharmaceuticals has a twelve month low of $12.69 and a twelve month high of $22.09. The stock has a market capitalization of $1.42 billion, a PE ratio of 182.56 and a beta of 0.32. The firm’s 50-day moving average price is $19.16 and its two-hundred day moving average price is $18.11.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.25) earnings per share 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 company had revenue of $79.90 million for the quarter, compared to analysts’ expectations of $76.97 million. During the same period in the prior year, the company posted ($0.18) EPS. The firm’s revenue was up 65.4% compared to the same quarter last year. On average, equities research analysts anticipate that Kiniksa Pharmaceuticals will post -0.04 EPS for the current fiscal year.

Insider Activity at Kiniksa Pharmaceuticals

In related news, CAO Michael R. Megna sold 5,126 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $21.79, for a total value of $111,695.54. Following the transaction, the chief accounting officer now directly owns 17,588 shares in the company, valued at approximately $383,242.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Michael R. Megna sold 5,126 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Michael R. Megna sold 9,659 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $21.45, for a total transaction of $207,185.55. Following the completion of the transaction, the chief accounting officer now owns 17,588 shares in the company, valued at $377,262.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,109 shares of company stock valued at $709,929. 54.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its holdings in shares of 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 worth $72,000 after purchasing an additional 3,186 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Kiniksa Pharmaceuticals in the 3rd quarter valued at about $176,000. Dynamic Technology Lab Private Ltd bought a new position in Kiniksa Pharmaceuticals during the 4th quarter worth approximately $213,000. QRG Capital Management Inc. acquired a new position in Kiniksa Pharmaceuticals in the third quarter valued at $249,000. Finally, SG Americas Securities LLC acquired a new stake in Kiniksa Pharmaceuticals during the fourth quarter worth approximately $311,000. Institutional investors 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.