Kiniksa Pharmaceuticals (NASDAQ:KNSA) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a report issued on Friday morning, MarketBeat.com reports. The firm issued a buy rating and a $40.00 target price on the stock.

Separately, Wedbush boosted their price target on Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the company an outperform rating in a report on Tuesday, July 23rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of Buy and an average target price of $33.60.

Kiniksa Pharmaceuticals Price Performance

KNSA stock opened at $25.26 on Friday. The company has a market cap of $1.79 billion, a P/E ratio of 229.64 and a beta of 0.33. The stock’s fifty day moving average price is $24.72 and its 200-day moving average price is $21.08. Kiniksa Pharmaceuticals has a 1 year low of $14.12 and a 1 year high of $27.92.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last released its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. Kiniksa Pharmaceuticals had a negative return on equity of 7.79% and a negative net margin of 3.10%. The business had revenue of $108.30 million during the quarter, compared to analyst estimates of $90.60 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Kiniksa Pharmaceuticals’s revenue for the quarter was up 51.5% on a year-over-year basis. As a group, analysts expect that Kiniksa Pharmaceuticals will post -0.31 earnings per share for the current year.

Insider Transactions at Kiniksa Pharmaceuticals

In other news, insider John F. Paolini sold 22,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $26.32, for a total value of $579,040.00. Following the completion of the transaction, the insider now owns 47,803 shares of the company’s stock, valued at $1,258,174.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider John F. Paolini sold 22,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $26.32, for a total value of $579,040.00. Following the completion of the transaction, the insider now owns 47,803 shares of the company’s stock, valued at $1,258,174.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanj K. Patel sold 136,124 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $25.65, for a total value of $3,491,580.60. Following the completion of the transaction, the chief executive officer now directly owns 63,012 shares of the company’s stock, valued at approximately $1,616,257.80. The disclosure for this sale can be found here. Insiders sold a total of 260,564 shares of company stock valued at $6,727,929 over the last 90 days. Company insiders own 54.57% of the company’s stock.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

A number of hedge funds have recently made changes to their positions in KNSA. Acadian Asset Management LLC lifted its position in shares of Kiniksa Pharmaceuticals by 167.8% in the first quarter. Acadian Asset Management LLC now owns 164,568 shares of the company’s stock worth $3,240,000 after buying an additional 103,120 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Kiniksa Pharmaceuticals in the first quarter worth about $1,450,000. Altitude Crest Partners Inc. purchased a new stake in shares of Kiniksa Pharmaceuticals in the fourth quarter worth about $7,999,000. Granahan Investment Management LLC lifted its position in shares of Kiniksa Pharmaceuticals by 35.2% in the fourth quarter. Granahan Investment Management LLC now owns 722,388 shares of the company’s stock worth $12,671,000 after buying an additional 188,174 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Kiniksa Pharmaceuticals by 8.1% in the first quarter. SG Americas Securities LLC now owns 19,160 shares of the company’s stock worth $378,000 after buying an additional 1,435 shares in the last quarter. Institutional investors 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.