Kiniksa Pharmaceuticals (NASDAQ:KNSA) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA - Free Report) from a buy rating to a hold rating in a report published on Friday morning.

A number of other research firms also recently issued reports on KNSA. Citigroup assumed coverage on shares of Kiniksa Pharmaceuticals in a report on Thursday, March 13th. They set a "buy" rating and a $40.00 price objective for the company. Wedbush reaffirmed an "outperform" rating and set a $34.00 price objective on shares of Kiniksa Pharmaceuticals in a report on Wednesday, April 16th. Finally, Jefferies Financial Group lifted their price objective on shares of Kiniksa Pharmaceuticals from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $38.80.

Kiniksa Pharmaceuticals Price Performance

NASDAQ:KNSA traded up $0.71 during trading hours on Friday, hitting $30.23. The stock had a trading volume of 1,070,343 shares, compared to its average volume of 503,899. The company has a 50 day simple moving average of $24.27 and a two-hundred day simple moving average of $21.90. Kiniksa Pharmaceuticals has a one year low of $17.38 and a one year high of $30.27. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -215.91 and a beta of 0.06.

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

Insider Buying and Selling

In other Kiniksa Pharmaceuticals news, CFO Mark Ragosa sold 18,299 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $28.80, for a total value of $527,011.20. Following the transaction, the chief financial officer now owns 27,009 shares in the company, valued at approximately $777,859.20. The trade was a 40.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ross Moat sold 18,259 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $20.29, for a total transaction of $370,475.11. Following the completion of the transaction, the insider now owns 9,415 shares in the company, valued at $191,030.35. The trade was a 65.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 391,014 shares of company stock worth $10,101,143 in the last 90 days. 54.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Nuveen Asset Management LLC increased its position in shares of Kiniksa Pharmaceuticals by 7.3% in the fourth quarter. Nuveen Asset Management LLC now owns 795,612 shares of the company's stock valued at $15,737,000 after acquiring an additional 54,361 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Kiniksa Pharmaceuticals by 36.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 122,019 shares of the company's stock valued at $2,414,000 after acquiring an additional 32,393 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Kiniksa Pharmaceuticals in the fourth quarter valued at about $3,955,000. Globeflex Capital L P increased its position in shares of Kiniksa Pharmaceuticals by 217.1% in the fourth quarter. Globeflex Capital L P now owns 88,596 shares of the company's stock valued at $1,752,000 after acquiring an additional 60,656 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Kiniksa Pharmaceuticals by 32.5% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 99,632 shares of the company's stock valued at $1,971,000 after acquiring an additional 24,463 shares during the period. Hedge funds and other institutional investors own 53.95% of the company's stock.

Kiniksa Pharmaceuticals Company Profile

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.