Kiniksa Pharmaceuticals (NASDAQ:KNSA) Stock Price Up 4.2% - Should You Buy?

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Get Free Report) rose 4.2% during trading on Wednesday . The company traded as high as $27.57 and last traded at $27.62. Approximately 268,342 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 488,184 shares. The stock had previously closed at $26.49.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on KNSA shares. Citigroup began coverage on Kiniksa Pharmaceuticals in a research note on Thursday, March 13th. They set a "buy" rating and a $40.00 price target for the company. Jefferies Financial Group boosted their target price on shares of Kiniksa Pharmaceuticals from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Wedbush restated an "outperform" rating and set a $34.00 price target on shares of Kiniksa Pharmaceuticals in a research note on Wednesday, April 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Kiniksa Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $38.80.

Kiniksa Pharmaceuticals Stock Up 2.0%

The business has a 50-day simple moving average of $23.62 and a 200-day simple moving average of $21.63. The stock has a market cap of $2.04 billion, a P/E ratio of -199.41 and a beta of 0.07.

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $137.79 million during the quarter, compared to the consensus estimate of $128.35 million. Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. Kiniksa Pharmaceuticals's quarterly revenue was up 72.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.25) EPS. On average, analysts predict that Kiniksa Pharmaceuticals, Ltd. will post -0.55 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Mark Ragosa sold 36,372 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $22.25, for a total transaction of $809,277.00. Following the transaction, the chief financial officer now owns 22,958 shares of the company's stock, valued at approximately $510,815.50. The trade was a 61.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Eben Tessari sold 12,000 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $20.48, for a total transaction of $245,760.00. Following the transaction, the chief operating officer now owns 77,363 shares of the company's stock, valued at approximately $1,584,394.24. The trade was a 13.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 329,910 shares of company stock valued at $8,336,038. 54.57% of the stock is owned by insiders.

Institutional Trading of Kiniksa Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of KNSA. Corebridge Financial Inc. lifted its stake in shares of Kiniksa Pharmaceuticals by 3.6% in the first quarter. Corebridge Financial Inc. now owns 15,979 shares of the company's stock valued at $355,000 after buying an additional 549 shares during the period. GAMMA Investing LLC lifted its position in shares of Kiniksa Pharmaceuticals by 84.8% in the 1st quarter. GAMMA Investing LLC now owns 1,238 shares of the company's stock worth $27,000 after acquiring an additional 568 shares during the period. Sound View Wealth Advisors Group LLC lifted its position in shares of Kiniksa Pharmaceuticals by 4.0% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 14,657 shares of the company's stock worth $326,000 after acquiring an additional 568 shares during the period. Martingale Asset Management L P grew its holdings in shares of Kiniksa Pharmaceuticals by 1.3% during the 1st quarter. Martingale Asset Management L P now owns 50,000 shares of the company's stock worth $1,111,000 after purchasing an additional 640 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Kiniksa Pharmaceuticals by 7.1% during the fourth quarter. Teacher Retirement System of Texas now owns 10,862 shares of the company's stock valued at $215,000 after purchasing an additional 719 shares during the period. 53.95% of the stock is currently owned by institutional investors and hedge funds.

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.