JPMorgan Chase & Co. Issues Positive Forecast for Kiniksa Pharmaceuticals International (NASDAQ:KNSA) Stock Price

Key Points

• JPMorgan raised Kiniksa’s price target from $107 to $122 while maintaining an “overweight” rating, implying 32.26% upside from the previous close.
• Analyst sentiment remains favorable: Kiniksa has an average “Moderate Buy” rating and a consensus price target of $100.57, supported by target increases from Wells Fargo, Goldman Sachs, and Canaccord Genuity.
• Kiniksa recently exceeded quarterly expectations, reporting $0.56 in adjusted earnings per share versus a $0.37 consensus estimate and revenue of $285.97 million versus $260.66 million expected; shares nevertheless fell 5.5% to $92.24.

Kiniksa Pharmaceuticals International (NASDAQ:KNSA - Get Free Report) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $107.00 to $122.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 32.26% from the company's previous close.

Several other research firms have also issued reports on KNSA. Wall Street Zen lowered shares of Kiniksa Pharmaceuticals International from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 12th. Wells Fargo & Company boosted their price target on Kiniksa Pharmaceuticals International from $87.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on Kiniksa Pharmaceuticals International from $90.00 to $101.00 and gave the stock a "buy" rating in a research note on Wednesday. Canaccord Genuity Group lifted their price objective on shares of Kiniksa Pharmaceuticals International from $64.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Finally, Weiss Ratings cut Kiniksa Pharmaceuticals International from a "buy (b-)" rating to a "hold (c-)" rating in a research report on Wednesday. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Kiniksa Pharmaceuticals International currently has an average rating of "Moderate Buy" and an average target price of $100.57.

Kiniksa Pharmaceuticals International Stock Down 5.5%

Shares of NASDAQ:KNSA traded down $5.32 during trading on Friday, reaching $92.24. The stock had a trading volume of 1,320,137 shares, compared to its average volume of 702,945. The stock has a fifty day simple moving average of $78.88 and a two-hundred day simple moving average of $59.78. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 70.95 and a beta of 0.04. Kiniksa Pharmaceuticals International has a 52 week low of $36.56 and a 52 week high of $98.48.

Kiniksa Pharmaceuticals International (NASDAQ:KNSA - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.19. Kiniksa Pharmaceuticals International had a return on equity of 17.27% and a net margin of 11.58%. The firm had revenue of $285.97 million for the quarter, compared to the consensus estimate of $260.66 million. On average, analysts forecast that Kiniksa Pharmaceuticals International will post 1.16 EPS for the current year.

Insider Transactions at Kiniksa Pharmaceuticals International

In related news, CAO Michael Megna sold 4,600 shares of the company's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $80.30, for a total transaction of $369,380.00. Following the completion of the sale, the chief accounting officer owned 29,062 shares of the company's stock, valued at $2,333,678.60. This represents a 13.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 51.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals International

Several large investors have recently modified their holdings of KNSA. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Kiniksa Pharmaceuticals International in the third quarter worth $184,000. ProShare Advisors LLC raised its stake in Kiniksa Pharmaceuticals International by 4.8% during the third quarter. ProShare Advisors LLC now owns 7,408 shares of the company's stock worth $553,000 after purchasing an additional 338 shares during the period. Vise Technologies Inc. lifted its position in shares of Kiniksa Pharmaceuticals International by 19.7% during the third quarter. Vise Technologies Inc. now owns 9,177 shares of the company's stock worth $685,000 after purchasing an additional 1,512 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of Kiniksa Pharmaceuticals International by 100.0% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 8,000 shares of the company's stock worth $597,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Fonville Wealth Management LLC purchased a new position in Kiniksa Pharmaceuticals International during the 3rd quarter worth $1,478,000. Hedge funds and other institutional investors own 53.95% of the company's stock.

Kiniksa Pharmaceuticals International Company Profile

Kiniksa Pharmaceuticals International plc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for patients with serious and often under-treated immunological diseases. The company's research and development efforts are centered on targeting specific pathways involved in inflammation and immune-system dysfunction.

Kiniksa's principal commercial product is ARCALYST (rilonacept), an interleukin-1 inhibitor. In the United States, ARCALYST is approved for reducing the risk of recurrence in patients with recurrent pericarditis and for the treatment of cryopyrin-associated periodic syndromes, including familial cold autoinflammatory syndrome and Muckle-Wells syndrome, in eligible patients.

The company also maintains a pipeline of investigational medicines designed to address autoimmune and inflammatory conditions.

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