Kiniksa Pharmaceuticals International (NASDAQ:KNSA) Hits New 52-Week High on Analyst Upgrade

Key Points

• KNSA hit a new 52-week high after Wall Street Zen upgraded the stock to a "strong-buy," trading as high as $57.72 on Tuesday (previous close $55.27) with about 763,713 shares changing hands.
• Analyst sentiment and price targets have been raised, with multiple firms boosting targets (Canaccord $64, Citi $60, Jefferies $71, Wells Fargo $57); consensus is a "Moderate Buy" with a $60.86 average target (seven Buys, one Hold, one Sell).
• Notable insider selling despite strong quarterly results: CEO Sanj K. Patel sold 48,565 shares (≈$2.62M) and insiders have sold 618,124 shares (~$31.9M) in the last three months, while the company reported Q revenue of $214.3M (+55.5%) and EPS of $0.27 beating estimates.

Kiniksa Pharmaceuticals International, plc (NASDAQ:KNSA - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday after Wall Street Zen upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $57.72 and last traded at $57.62, with a volume of 763713 shares changing hands. The stock had previously closed at $55.27.

A number of other brokerages also recently commented on KNSA. Canaccord Genuity Group raised their price objective on shares of Kiniksa Pharmaceuticals International from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Citigroup raised their price objective on shares of Kiniksa Pharmaceuticals International from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Wells Fargo & Company raised their price objective on shares of Kiniksa Pharmaceuticals International from $53.00 to $57.00 and gave the company an "overweight" rating in a research report on Wednesday, April 29th. Jefferies Financial Group raised their price objective on shares of Kiniksa Pharmaceuticals International from $58.00 to $71.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Kiniksa Pharmaceuticals International in a research report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $60.86.

Insider Activity

In other Kiniksa Pharmaceuticals International news, CEO Sanj K. Patel sold 48,565 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $54.02, for a total value of $2,623,481.30. Following the completion of the transaction, the chief executive officer directly owned 48,565 shares of the company's stock, valued at approximately $2,623,481.30. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry D. Quart sold 13,099 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $50.10, for a total transaction of $656,259.90. Following the completion of the transaction, the director directly owned 12,546 shares of the company's stock, valued at approximately $628,554.60. This trade represents a 51.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 618,124 shares of company stock worth $31,923,594 in the last three months. 53.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC purchased a new position in Kiniksa Pharmaceuticals International in the fourth quarter valued at about $36,000. EverSource Wealth Advisors LLC increased its holdings in Kiniksa Pharmaceuticals International by 140.4% in the second quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company's stock valued at $25,000 after buying an additional 532 shares in the last quarter. Nano Cap New Millennium Growth Fund L P purchased a new position in Kiniksa Pharmaceuticals International in the fourth quarter valued at about $41,000. CIBC Private Wealth Group LLC purchased a new position in Kiniksa Pharmaceuticals International in the fourth quarter valued at about $41,000. Finally, Quarry LP purchased a new position in Kiniksa Pharmaceuticals International in the third quarter valued at about $44,000. 53.95% of the stock is owned by hedge funds and other institutional investors.

Kiniksa Pharmaceuticals International Stock Up 4.3%

The company has a market capitalization of $4.41 billion, a PE ratio of 64.02 and a beta of 0.17. The stock's fifty day simple moving average is $46.40 and its 200-day simple moving average is $43.20.

Kiniksa Pharmaceuticals International (NASDAQ:KNSA - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.09. Kiniksa Pharmaceuticals International had a net margin of 9.69% and a return on equity of 13.26%. The company had revenue of $214.27 million during the quarter, compared to analysts' expectations of $206.11 million. During the same period last year, the company posted $0.11 earnings per share. The firm's quarterly revenue was up 55.5% compared to the same quarter last year. Analysts expect that Kiniksa Pharmaceuticals International, plc will post 1.22 EPS for the current year.

About Kiniksa Pharmaceuticals International

Kiniksa Pharmaceuticals International, Inc is a biopharmaceutical company focused on discovering, acquiring and developing therapeutics for patients suffering from lifethreatening and debilitating immune-mediated diseases. Founded in 2013 and headquartered in Lexington, Massachusetts, Kiniksa applies a patient-centric approach to build a diversified portfolio of marketed medicines and clinical-stage candidates targeting inflammation and immunology. The company's core mission is to address complex conditions with significant unmet medical needs by advancing both novel and differentiated therapies.

The company's lead marketed product is Ilaris (canakinumab), an interleukin-1β blocker licensed for the treatment of cryopyrin-associated periodic syndromes, systemic juvenile idiopathic arthritis, adult-onset Still's disease and Schnitzler syndrome.

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