Kiniksa Pharmaceuticals (NASDAQ:KNSA) Reaches New 52-Week High - What's Next?

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The company traded as high as $30.60 and last traded at $30.35, with a volume of 37954 shares traded. The stock had previously closed at $30.23.

Analysts Set New Price Targets

Several research analysts have recently commented on KNSA shares. Jefferies Financial Group lifted their target price on Kiniksa Pharmaceuticals from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Citigroup initiated coverage on shares of Kiniksa Pharmaceuticals in a research report on Thursday, March 13th. They issued a "buy" rating and a $40.00 price target for the company. Wall Street Zen downgraded shares of Kiniksa Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Wedbush reissued an "outperform" rating and set a $34.00 price target on shares of Kiniksa Pharmaceuticals in a report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $38.80.

Kiniksa Pharmaceuticals Trading Down 8.2%

The firm's 50-day moving average is $24.95 and its 200 day moving average is $22.13. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -198.06 and a beta of 0.06.

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.09. The firm had revenue of $137.79 million during the quarter, compared to analyst estimates of $128.35 million. Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. The company's revenue was up 72.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.25) EPS. Analysts predict that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current year.

Insiders Place Their Bets

In related news, insider Ross Moat sold 18,259 shares of Kiniksa Pharmaceuticals stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $20.29, for a total transaction of $370,475.11. Following the transaction, the insider now owns 9,415 shares of the company's stock, valued at $191,030.35. The trade was a 65.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Ragosa sold 11,464 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.10, for a total transaction of $264,818.40. Following the completion of the sale, the chief financial officer now owns 23,382 shares of the company's stock, valued at approximately $540,124.20. The trade was a 32.90% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 443,906 shares of company stock worth $12,081,708. 54.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its holdings in shares of Kiniksa Pharmaceuticals by 6.4% in the 1st quarter. Rhumbline Advisers now owns 62,700 shares of the company's stock worth $1,393,000 after purchasing an additional 3,745 shares during the period. Strs Ohio bought a new stake in shares of Kiniksa Pharmaceuticals during the 1st quarter valued at about $595,000. Acadian Asset Management LLC increased its holdings in shares of Kiniksa Pharmaceuticals by 170.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,034,321 shares of the company's stock worth $22,961,000 after buying an additional 651,700 shares during the last quarter. Fred Alger Management LLC bought a new position in Kiniksa Pharmaceuticals in the first quarter valued at $485,000. Finally, Millennium Management LLC raised its holdings in shares of Kiniksa Pharmaceuticals by 8.7% during the 1st quarter. Millennium Management LLC now owns 847,124 shares of the company's stock valued at $18,815,000 after buying an additional 67,452 shares in the last quarter. 53.95% of the stock is owned by institutional investors.

About Kiniksa Pharmaceuticals

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.