Kiniksa Pharmaceuticals (NASDAQ:KNSA) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) from a sell rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Kiniksa Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company. It focuses on discovering, acquiring, developing and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical need. Kiniksa Pharmaceuticals Ltd. is based in Massachusetts, United States. “

A number of other equities analysts also recently weighed in on KNSA. Evercore ISI initiated coverage on shares of Kiniksa Pharmaceuticals in a report on Tuesday, November 24th. They set an outperform rating on the stock. BidaskClub downgraded shares of Kiniksa Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, December 31st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Kiniksa Pharmaceuticals currently has an average rating of Buy and a consensus price target of $31.60.

Shares of KNSA opened at $18.32 on Wednesday. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -7.73 and a beta of 0.05. Kiniksa Pharmaceuticals has a 1-year low of $10.30 and a 1-year high of $28.67. The company’s fifty day simple moving average is $18.44 and its 200 day simple moving average is $18.30.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last issued its earnings results on Thursday, November 5th. The company reported ($0.66) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.05). On average, analysts predict that Kiniksa Pharmaceuticals will post -2.41 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in KNSA. ArrowMark Colorado Holdings LLC acquired a new position in shares of Kiniksa Pharmaceuticals in the third quarter valued at $17,760,000. BlackRock Inc. boosted its position in shares of Kiniksa Pharmaceuticals by 52.9% in the third quarter. BlackRock Inc. now owns 1,829,519 shares of the company’s stock valued at $28,028,000 after acquiring an additional 632,699 shares during the period. Vanguard Group Inc. boosted its position in shares of Kiniksa Pharmaceuticals by 42.9% in the second quarter. Vanguard Group Inc. now owns 1,714,942 shares of the company’s stock valued at $43,697,000 after acquiring an additional 514,431 shares during the period. Sphera Funds Management LTD. bought a new stake in shares of Kiniksa Pharmaceuticals in the third quarter valued at about $3,983,000. Finally, Morgan Stanley boosted its position in shares of Kiniksa Pharmaceuticals by 434.8% in the third quarter. Morgan Stanley now owns 200,406 shares of the company’s stock valued at $3,070,000 after acquiring an additional 162,930 shares during the period. Hedge funds and other institutional investors own 31.76% of the company’s stock.

About Kiniksa Pharmaceuticals

Kiniksa Pharmaceuticals, Ltd., a clinical-stage biopharmaceutical company, focuses on discovering, acquiring, developing, and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical need worldwide. Its clinical-stage product candidates include Rilonacept, which is in Phase III clinical trials for the treatment of recurrent pericarditis, an inflammatory cardiovascular disease; Mavrilimumab, a monoclonal antibody that is in Phase II clinical trials for the treatment of giant cell arteritis; and KPL-716, a monoclonal antibody, which is in Phase 2a clinical trial for the treatment of prurigo nodularis, a chronic inflammatory skin condition; and in Phase 1a clinical trial for the treatment of atopic dermatitis.

Further Reading: Hold Rating

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