Kiniksa Pharmaceuticals International (NASDAQ:KNSA) Hits New 12-Month High After Better-Than-Expected Earnings

Key Points

• Kiniksa Pharmaceuticals International reached a new 52-week high of $31.92 after announcing earnings of $0.23 EPS, surpassing analysts' expectations.
• Analysts have shown strong support for the stock, with multiple upgrades and an average target price of $39.67 from seven analysts.
• Insider trading activity saw the COO and CAO both sell significant shares, contributing to a total of 365,469 shares sold by insiders recently, indicating caution amidst positive stock performance.

Shares of Kiniksa Pharmaceuticals International, plc (NASDAQ:KNSA - Get Free Report) hit a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $31.92 and last traded at $30.13, with a volume of 203102 shares traded. The stock had previously closed at $27.04.

The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. The business had revenue of $156.80 million during the quarter, compared to analyst estimates of $145.21 million. Kiniksa Pharmaceuticals International had a net margin of 0.90% and a return on equity of 1.05%.

Analyst Ratings Changes

A number of equities analysts have weighed in on KNSA shares. Jefferies Financial Group upped their price target on shares of Kiniksa Pharmaceuticals International from $45.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday. Wells Fargo & Company upped their price objective on Kiniksa Pharmaceuticals International from $30.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Wall Street Zen raised Kiniksa Pharmaceuticals International from a "hold" rating to a "buy" rating in a research note on Sunday, July 6th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $36.00 price objective on shares of Kiniksa Pharmaceuticals International in a research note on Monday, July 21st. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $41.17.

Insider Activity at Kiniksa Pharmaceuticals International

In related news, insider Ross Moat sold 27,594 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $29.02, for a total transaction of $800,777.88. Following the completion of the transaction, the insider directly owned 9,415 shares of the company's stock, valued at approximately $273,223.30. This represents a 74.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael R. Megna sold 17,647 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $26.69, for a total value of $470,998.43. Following the transaction, the chief accounting officer directly owned 32,546 shares of the company's stock, valued at approximately $868,652.74. The trade was a 35.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 320,981 shares of company stock valued at $9,189,467 in the last 90 days. 53.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals International

Several large investors have recently added to or reduced their stakes in KNSA. Nuveen LLC bought a new stake in Kiniksa Pharmaceuticals International during the first quarter worth approximately $16,992,000. Acadian Asset Management LLC increased its stake in Kiniksa Pharmaceuticals International by 170.3% during the first quarter. Acadian Asset Management LLC now owns 1,034,321 shares of the company's stock worth $22,961,000 after acquiring an additional 651,700 shares during the last quarter. Braidwell LP increased its stake in Kiniksa Pharmaceuticals International by 19.3% during the fourth quarter. Braidwell LP now owns 3,452,447 shares of the company's stock worth $68,289,000 after acquiring an additional 557,934 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Kiniksa Pharmaceuticals International by 149.1% during the first quarter. AQR Capital Management LLC now owns 491,761 shares of the company's stock valued at $10,922,000 after buying an additional 294,319 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Kiniksa Pharmaceuticals International by 138.9% during the fourth quarter. JPMorgan Chase & Co. now owns 477,800 shares of the company's stock valued at $9,451,000 after buying an additional 277,827 shares during the period. 53.95% of the stock is owned by institutional investors.

Kiniksa Pharmaceuticals International Price Performance

The company has a 50-day simple moving average of $28.28 and a 200-day simple moving average of $23.97. The firm has a market cap of $2.33 billion, a PE ratio of 799.70 and a beta of 0.05.

Kiniksa Pharmaceuticals International 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.