Kiniksa Pharmaceuticals (NASDAQ:KNSA) Price Target Raised to $30.00

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Free Report) had its price objective upped by JPMorgan Chase & Co. from $26.00 to $30.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on KNSA. TheStreet raised shares of Kiniksa Pharmaceuticals from a d+ rating to a c rating in a research report on Thursday, February 29th. Wedbush restated an outperform rating and issued a $30.00 price objective on shares of Kiniksa Pharmaceuticals in a report on Tuesday, April 23rd. Finally, Evercore ISI raised their price objective on shares of Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the company an outperform rating in a report on Wednesday, April 24th.

Kiniksa Pharmaceuticals Price Performance

Shares of NASDAQ:KNSA traded up $0.68 during mid-day trading on Wednesday, reaching $19.40. 579,153 shares of the company were exchanged, compared to its average volume of 408,524. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 175.09 and a beta of 0.27. The firm's 50-day simple moving average is $19.17 and its 200 day simple moving average is $18.06. Kiniksa Pharmaceuticals has a 1 year low of $11.01 and a 1 year high of $22.09.

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.11). Kiniksa Pharmaceuticals had a negative return on equity of 7.26% and a net margin of 2.78%. The company had revenue of $79.90 million for the quarter, compared to analysts' expectations of $76.97 million. During the same period in the previous year, the business posted ($0.18) EPS. The business's revenue for the quarter was up 65.4% on a year-over-year basis. On average, research analysts forecast that Kiniksa Pharmaceuticals will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Michael R. Megna sold 5,126 shares of Kiniksa Pharmaceuticals stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $21.79, for a total transaction of $111,695.54. Following the sale, the chief accounting officer now directly owns 17,588 shares in the company, valued at approximately $383,242.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Kiniksa Pharmaceuticals news, CEO Sanj K. Patel sold 12,742 shares of the firm's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $21.49, for a total transaction of $273,825.58. Following the transaction, the chief executive officer now directly owns 70,594 shares of the company's stock, valued at approximately $1,517,065.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael R. Megna sold 5,126 shares of the firm's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $21.79, for a total transaction of $111,695.54. Following the transaction, the chief accounting officer now directly owns 17,588 shares in the company, valued at $383,242.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,109 shares of company stock worth $709,929. 54.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KNSA. Granahan Investment Management LLC boosted its holdings in shares of Kiniksa Pharmaceuticals by 35.2% in the fourth quarter. Granahan Investment Management LLC now owns 722,388 shares of the company's stock valued at $12,671,000 after acquiring an additional 188,174 shares in the last quarter. Parkman Healthcare Partners LLC boosted its holdings in shares of Kiniksa Pharmaceuticals by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 615,693 shares of the company's stock valued at $10,799,000 after acquiring an additional 105,883 shares in the last quarter. Altitude Crest Partners Inc. purchased a new stake in shares of Kiniksa Pharmaceuticals in the fourth quarter valued at about $7,999,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Kiniksa Pharmaceuticals by 59.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 256,932 shares of the company's stock valued at $4,463,000 after acquiring an additional 96,288 shares in the last quarter. Finally, Peregrine Capital Management LLC purchased a new stake in shares of Kiniksa Pharmaceuticals in the first quarter valued at about $4,657,000. 53.95% of the stock is owned by hedge funds and other 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.