Kiniksa Pharmaceuticals International (NASDAQ:KNSA) Reaches New 12-Month High on Better-Than-Expected Earnings

Key Points

• Kiniksa Pharmaceuticals International exceeded quarterly expectations, reporting $0.56 in earnings per share versus the $0.37 consensus estimate and revenue of $285.97 million versus $260.66 million expected.
• The strong results pushed KNSA to a new 52-week high of $84.27, while analysts maintained a generally bullish outlook: eight rate it Buy and one Hold, with a consensus price target of $93.14.
• Institutional investors and hedge funds own 53.95% of the stock, while insiders hold 51.98%; however, two insiders recently sold shares under disclosed transactions.

Kiniksa Pharmaceuticals International, plc (NASDAQ:KNSA - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $84.27 and last traded at $84.1270, with a volume of 46,358 shares changing hands. The stock had previously closed at $72.98.

The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.19. Kiniksa Pharmaceuticals International had a net margin of 9.59% and a return on equity of 13.65%. The business had revenue of $285.97 million during the quarter, compared to analysts' expectations of $260.66 million.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings upgraded Kiniksa Pharmaceuticals International from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Wall Street Zen downgraded Kiniksa Pharmaceuticals International from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. raised their price target on Kiniksa Pharmaceuticals International from $72.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Wells Fargo & Company started coverage on Kiniksa Pharmaceuticals International in a research note on Wednesday, September 30th. They issued an "overweight" rating and a $87.00 price target for the company. Finally, Wedbush increased their target price on Kiniksa Pharmaceuticals International from $72.00 to $99.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $93.14.

Insider Activity at Kiniksa Pharmaceuticals International

In other news, Director G. Bradley Cole sold 3,673 shares of Kiniksa Pharmaceuticals International stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $81.43, for a total transaction of $299,092.39. Following the sale, the director owned 11,672 shares in the company, valued at $950,450.96. This trade represents a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Michael R. Megna sold 4,600 shares of the company's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $80.30, for a total value of $369,380.00. Following the sale, the chief accounting officer owned 29,062 shares of the company's stock, valued at approximately $2,333,678.60. This represents a 13.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 51.98% of the company's stock.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP increased its position in Kiniksa Pharmaceuticals International by 42.0% in the second quarter. Allworth Financial LP now owns 453 shares of the company's stock worth $29,000 after buying an additional 134 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Kiniksa Pharmaceuticals International by 2.1% during the second quarter. Arizona State Retirement System now owns 10,132 shares of the company's stock worth $648,000 after purchasing an additional 209 shares during the period. GAMMA Investing LLC raised its stake in Kiniksa Pharmaceuticals International by 21.1% in the third quarter. GAMMA Investing LLC now owns 1,278 shares of the company's stock worth $95,000 after buying an additional 223 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Kiniksa Pharmaceuticals International by 3.1% in the 1st quarter. First Trust Advisors LP now owns 9,876 shares of the company's stock worth $476,000 after purchasing an additional 293 shares in the last quarter. Finally, Curry Webb Wealth Management LLC purchased a new stake in Kiniksa Pharmaceuticals International during the 3rd quarter valued at $29,000. 53.95% of the stock is owned by institutional investors and hedge funds.

Kiniksa Pharmaceuticals International Price Performance

The business has a 50-day moving average of $78.03 and a 200 day moving average of $59.00. The company has a market cap of $6.75 billion, a PE ratio of 89.96 and a beta of 0.04.

Kiniksa Pharmaceuticals International Company Profile

Kiniksa Pharmaceuticals International plc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for patients with serious and often under-treated immunological diseases. The company's research and development efforts are centered on targeting specific pathways involved in inflammation and immune-system dysfunction.

Kiniksa's principal commercial product is ARCALYST (rilonacept), an interleukin-1 inhibitor. In the United States, ARCALYST is approved for reducing the risk of recurrence in patients with recurrent pericarditis and for the treatment of cryopyrin-associated periodic syndromes, including familial cold autoinflammatory syndrome and Muckle-Wells syndrome, in eligible patients.

The company also maintains a pipeline of investigational medicines designed to address autoimmune and inflammatory conditions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.