Kiniksa Pharmaceuticals International (NASDAQ:KNSA) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Kiniksa Pharmaceuticals International from hold to strong-buy, adding to a broadly positive analyst backdrop. The stock now has an average rating of Buy and an average price target of $60.86.
• The company also reported better-than-expected quarterly results, with EPS of $0.27 versus the $0.18 estimate and revenue of $214.27 million beating forecasts. Revenue jumped 55.5% year over year.
• KNSA shares were up 1.7% to $55.11 and are trading near their 52-week high of $59.87. The article also noted significant insider selling, including shares sold by the CEO and CAO.

Kiniksa Pharmaceuticals International (NASDAQ:KNSA - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

Other analysts have also issued reports about the company. Wedbush boosted their price objective on Kiniksa Pharmaceuticals International from $58.00 to $59.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Wall Street Zen upgraded Kiniksa Pharmaceuticals International from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 4th. Citigroup boosted their price target on Kiniksa Pharmaceuticals International from $50.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Jefferies Financial Group raised their price objective on Kiniksa Pharmaceuticals International from $58.00 to $71.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Finally, Canaccord Genuity Group raised their price objective on Kiniksa Pharmaceuticals International from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $60.86.

Kiniksa Pharmaceuticals International Stock Up 1.7%

Kiniksa Pharmaceuticals International stock opened at $55.11 on Wednesday. Kiniksa Pharmaceuticals International has a 52-week low of $26.27 and a 52-week high of $59.87. The firm has a fifty day moving average of $50.86 and a 200-day moving average of $46.27. The firm has a market capitalization of $4.24 billion, a P/E ratio of 61.23 and a beta of 0.12.

Kiniksa Pharmaceuticals International (NASDAQ:KNSA - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. The business had revenue of $214.27 million for the quarter, compared to analysts' expectations of $206.11 million. Kiniksa Pharmaceuticals International had a return on equity of 13.26% and a net margin of 9.69%.The company's revenue was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 earnings per share. On average, research analysts expect that Kiniksa Pharmaceuticals International will post 1.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kiniksa Pharmaceuticals International news, CAO Michael R. Megna sold 6,625 shares of Kiniksa Pharmaceuticals International stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $46.69, for a total transaction of $309,321.25. Following the sale, the chief accounting officer owned 27,418 shares of the company's stock, valued at $1,280,146.42. The trade was a 19.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanj K. Patel sold 483,654 shares of the business's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $51.86, for a total value of $25,082,296.44. Following the transaction, the chief executive officer owned 431,904 shares of the company's stock, valued at $22,398,541.44. This trade represents a 52.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 653,301 shares of company stock worth $34,046,073. 51.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals International

A number of hedge funds and other institutional investors have recently modified their holdings of KNSA. EverSource Wealth Advisors LLC grew its position in Kiniksa Pharmaceuticals International by 140.4% in the 2nd 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. Osaic Holdings Inc. acquired a new stake in shares of Kiniksa Pharmaceuticals International in the 2nd quarter worth approximately $31,000. KBC Group NV acquired a new stake in shares of Kiniksa Pharmaceuticals International in the 1st quarter worth approximately $34,000. Smartleaf Asset Management LLC bought a new position in shares of Kiniksa Pharmaceuticals International in the fourth quarter valued at approximately $36,000. Finally, 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. 53.95% of the stock is currently owned by institutional investors.

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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