Kiniksa Pharmaceuticals International (NASDAQ:KNSA) Price Target Raised to $58.00 at Wedbush

Key Points

• Wedbush raised its price target on Kiniksa to $58.00 and kept an "outperform" rating, implying about a 25.9% upside from the prior close.
• The company reported mixed quarterly results with revenue of $202.13M (up ~65% year-over-year and slightly above estimates) but missed EPS at $0.17 versus a $0.29 consensus; analysts' average rating is "Moderate Buy" with an average target of $56.00.
• Insiders have been net sellers recently—61,479 shares worth $2.83M sold in the past three months (including the CEO and a director each cutting their holdings by about half)—though insiders still own roughly 53.5% of the stock.

Kiniksa Pharmaceuticals International (NASDAQ:KNSA - Get Free Report) had its price objective raised by research analysts at Wedbush from $53.00 to $58.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Wedbush's price target suggests a potential upside of 25.89% from the stock's previous close.

A number of other analysts have also recently weighed in on KNSA. Wall Street Zen cut Kiniksa Pharmaceuticals International from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Wells Fargo & Company raised their price target on Kiniksa Pharmaceuticals International from $50.00 to $53.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th. Canaccord Genuity Group assumed coverage on Kiniksa Pharmaceuticals International in a report on Thursday, February 19th. They set a "buy" rating and a $62.00 price target on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Kiniksa Pharmaceuticals International in a report on Thursday, January 22nd. Finally, Zacks Research raised Kiniksa Pharmaceuticals International from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 25th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $56.00.

Kiniksa Pharmaceuticals International Trading Up 0.4%

Shares of NASDAQ KNSA opened at $46.07 on Thursday. The stock has a market cap of $3.53 billion, a P/E ratio of 62.30 and a beta of 0.06. Kiniksa Pharmaceuticals International has a 12-month low of $19.62 and a 12-month high of $50.03. The business's fifty day simple moving average is $46.09 and its 200-day simple moving average is $42.54.

Kiniksa Pharmaceuticals International (NASDAQ:KNSA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.12). The company had revenue of $202.13 million during the quarter, compared to analyst estimates of $200.86 million. Kiniksa Pharmaceuticals International had a net margin of 8.71% and a return on equity of 11.48%. The firm's revenue was up 65.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.12) earnings per share. On average, equities analysts forecast that Kiniksa Pharmaceuticals International will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Barry D. Quart sold 12,528 shares of the business's stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $45.27, for a total transaction of $567,142.56. Following the completion of the sale, the director directly owned 12,546 shares of the company's stock, valued at $567,957.42. The trade was a 49.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanj K. Patel sold 7,278 shares of the business's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $50.01, for a total transaction of $363,972.78. Following the sale, the chief executive officer directly owned 7,278 shares of the company's stock, valued at $363,972.78. This represents a 50.00% 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 sold a total of 61,479 shares of company stock worth $2,832,812 in the last three months. 53.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. USA Financial Formulas bought a new position in shares of Kiniksa Pharmaceuticals International during the third quarter worth about $32,000. Smartleaf Asset Management LLC acquired a new position in shares of Kiniksa Pharmaceuticals International during the fourth quarter valued at approximately $36,000. EverSource Wealth Advisors LLC increased its stake in shares of Kiniksa Pharmaceuticals International by 140.4% during the second quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company's stock valued at $25,000 after acquiring an additional 532 shares during the period. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Kiniksa Pharmaceuticals International during the fourth quarter valued at approximately $41,000. Finally, CIBC Private Wealth Group LLC bought a new stake in Kiniksa Pharmaceuticals International during the fourth quarter worth approximately $41,000. 53.95% of the stock is owned by hedge funds and other institutional investors.

Kiniksa Pharmaceuticals International Company Profile

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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