Kiniksa Pharmaceuticals (NASDAQ:KNSA) Now Covered by Wells Fargo & Company

Analysts at Wells Fargo & Company started coverage on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a research report issued on Friday, MarketBeat.com reports. The firm set an “overweight” rating and a $34.00 price target on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 69.32% from the company’s previous close.

A number of other analysts have also issued reports on the stock. TheStreet upgraded shares of Kiniksa Pharmaceuticals from a “d+” rating to a “c” rating in a research note on Thursday, February 29th. Wedbush reiterated an “outperform” rating and issued a $30.00 price target on shares of Kiniksa Pharmaceuticals in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. upped their price objective on Kiniksa Pharmaceuticals from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Evercore ISI lifted their target price on Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $31.00.

Kiniksa Pharmaceuticals Price Performance

KNSA traded up $0.70 during trading hours on Friday, reaching $20.08. 403,855 shares of the stock traded hands, compared to its average volume of 396,776. Kiniksa Pharmaceuticals has a fifty-two week low of $12.69 and a fifty-two week high of $22.09. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 182.56 and a beta of 0.32. The firm’s fifty day simple moving average is $19.16 and its two-hundred day simple moving average is $18.12.

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

Insider Transactions at Kiniksa Pharmaceuticals

In related news, CEO Sanj K. Patel sold 5,582 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $21.00, for a total transaction of $117,222.00. Following the transaction, the chief executive officer now owns 65,012 shares in the company, valued at $1,365,252. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Michael R. Megna sold 5,126 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $21.79, for a total transaction of $111,695.54. Following the completion of the sale, the chief accounting officer now directly owns 17,588 shares of the company’s stock, valued at $383,242.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanj K. Patel sold 5,582 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $21.00, for a total transaction of $117,222.00. Following the sale, the chief executive officer now owns 65,012 shares of the company’s stock, valued at $1,365,252. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,109 shares of company stock valued at $709,929. 54.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Essex Investment Management Co. LLC raised its position in shares of Kiniksa Pharmaceuticals by 0.5% during the first quarter. Essex Investment Management Co. LLC now owns 172,740 shares of the company’s stock worth $3,408,000 after purchasing an additional 850 shares during the period. Tejara Capital Ltd lifted its stake in Kiniksa Pharmaceuticals by 3.2% during the third quarter. Tejara Capital Ltd now owns 35,000 shares of the company’s stock valued at $608,000 after buying an additional 1,069 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Kiniksa Pharmaceuticals by 5.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,935 shares of the company’s stock valued at $413,000 after buying an additional 1,153 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Kiniksa Pharmaceuticals by 1.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 147,182 shares of the company’s stock worth $2,582,000 after buying an additional 1,540 shares during the period. Finally, QRG Capital Management Inc. increased its position in shares of Kiniksa Pharmaceuticals by 11.7% in the fourth quarter. QRG Capital Management Inc. now owns 16,010 shares of the company’s stock worth $281,000 after acquiring an additional 1,679 shares in the last quarter. Institutional investors and hedge funds 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.