Kiniksa Pharmaceuticals (NASDAQ:KNSA) Coverage Initiated at Citigroup

Citigroup began coverage on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a report issued on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $40.00 price objective on the stock.

Separately, Wedbush reiterated an “outperform” rating and set a $34.00 price target on shares of Kiniksa Pharmaceuticals in a report on Tuesday, February 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $37.17.

Kiniksa Pharmaceuticals Stock Up 2.0 %

NASDAQ KNSA opened at $22.61 on Thursday. Kiniksa Pharmaceuticals has a 52 week low of $16.56 and a 52 week high of $28.15. The business’s fifty day simple moving average is $19.99 and its 200-day simple moving average is $22.16. The firm has a market cap of $1.64 billion, a PE ratio of -161.49 and a beta of 0.48.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. The company had revenue of $122.50 million for the quarter, compared to analysts’ expectations of $123.42 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The firm’s revenue was up 46.9% on a year-over-year basis. Research analysts expect that Kiniksa Pharmaceuticals will post -0.55 EPS for the current year.

Insider Buying and Selling

In other Kiniksa Pharmaceuticals news, CFO Mark Ragosa sold 36,372 shares of Kiniksa Pharmaceuticals stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $22.25, for a total value of $809,277.00. Following the completion of the transaction, the chief financial officer now directly owns 22,958 shares of the company’s stock, valued at $510,815.50. The trade was a 61.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Michael R. Megna sold 9,051 shares of Kiniksa Pharmaceuticals stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $22.45, for a total value of $203,194.95. Following the completion of the transaction, the chief accounting officer now directly owns 26,528 shares of the company’s stock, valued at approximately $595,553.60. This represents a 25.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,423 shares of company stock valued at $1,541,812. 54.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas grew its position in Kiniksa Pharmaceuticals by 7.1% in the 4th quarter. Teacher Retirement System of Texas now owns 10,862 shares of the company’s stock valued at $215,000 after acquiring an additional 719 shares in the last quarter. Martingale Asset Management L P grew its position in Kiniksa Pharmaceuticals by 1.9% in the 4th quarter. Martingale Asset Management L P now owns 49,360 shares of the company’s stock valued at $976,000 after acquiring an additional 900 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Kiniksa Pharmaceuticals by 12.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,814 shares of the company’s stock valued at $174,000 after acquiring an additional 1,004 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Kiniksa Pharmaceuticals by 1.7% in the 3rd quarter. Franklin Resources Inc. now owns 67,533 shares of the company’s stock valued at $1,798,000 after buying an additional 1,100 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of Kiniksa Pharmaceuticals by 6.3% in the 4th quarter. MetLife Investment Management LLC now owns 23,095 shares of the company’s stock valued at $457,000 after buying an additional 1,374 shares during the period. 53.95% of the stock is owned by institutional investors and hedge funds.

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.