Wells Fargo & Company Increases Kiniksa Pharmaceuticals International (NASDAQ:KNSA) Price Target to $42.00

Kiniksa Pharmaceuticals International (NASDAQ:KNSA - Get Free Report) had its price objective lifted by research analysts at Wells Fargo & Company from $30.00 to $42.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 49.52% from the stock's previous close.

Several other brokerages have also recently issued reports on KNSA. Wedbush restated an "outperform" rating and issued a $34.00 target price on shares of Kiniksa Pharmaceuticals International in a report on Wednesday, April 16th. Citigroup assumed coverage on shares of Kiniksa Pharmaceuticals International in a report on Thursday, March 13th. They issued a "buy" rating and a $40.00 target price on the stock. Wall Street Zen upgraded shares of Kiniksa Pharmaceuticals International from a "hold" rating to a "buy" rating in a report on Sunday, July 6th. Finally, Jefferies Financial Group raised their target price on shares of Kiniksa Pharmaceuticals International from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $39.33.

Kiniksa Pharmaceuticals International Price Performance

NASDAQ KNSA traded down $0.86 on Wednesday, reaching $28.09. 355,269 shares of the company's stock traded hands, compared to its average volume of 555,944. Kiniksa Pharmaceuticals International has a 12 month low of $17.82 and a 12 month high of $30.69. The stock has a 50-day simple moving average of $27.72 and a 200 day simple moving average of $23.17. The stock has a market cap of $2.05 billion, a PE ratio of -112.36 and a beta of 0.05.

Kiniksa Pharmaceuticals International (NASDAQ:KNSA - Get Free Report) last issued its 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. Kiniksa Pharmaceuticals International had a negative net margin of 3.52% and a negative return on equity of 3.83%. The firm had revenue of $137.79 million for the quarter, compared to analysts' expectations of $128.35 million. During the same quarter last year, the business earned ($0.25) earnings per share. The business's revenue was up 72.5% on a year-over-year basis. As a group, analysts anticipate that Kiniksa Pharmaceuticals International will post -0.55 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Michael R. Megna sold 15,211 shares of Kiniksa Pharmaceuticals International stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $28.75, for a total value of $437,316.25. Following the sale, the chief accounting officer owned 32,546 shares in the company, valued at $935,697.50. The trade was a 31.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Eben Tessari sold 17,300 shares of Kiniksa Pharmaceuticals International stock in a transaction on Monday, June 16th. The shares were sold at an average price of $28.28, for a total transaction of $489,244.00. Following the completion of the sale, the chief operating officer owned 61,563 shares in the company, valued at approximately $1,741,001.64. This trade represents a 21.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 440,863 shares of company stock valued at $12,101,029 over the last quarter. 53.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in Kiniksa Pharmaceuticals International by 13.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 15,410 shares of the company's stock valued at $430,000 after buying an additional 1,846 shares during the period. Pallas Capital Advisors LLC purchased a new position in Kiniksa Pharmaceuticals International during the second quarter valued at $236,000. Voya Investment Management LLC lifted its position in Kiniksa Pharmaceuticals International by 54.4% during the first quarter. Voya Investment Management LLC now owns 30,866 shares of the company's stock valued at $686,000 after buying an additional 10,878 shares during the period. Rhumbline Advisers lifted its position in Kiniksa Pharmaceuticals International by 6.4% during the first quarter. Rhumbline Advisers now owns 62,700 shares of the company's stock valued at $1,393,000 after buying an additional 3,745 shares during the period. Finally, Strs Ohio purchased a new position in Kiniksa Pharmaceuticals International during the first quarter valued at $595,000. Hedge funds and other institutional investors own 53.95% of the company's stock.

About Kiniksa Pharmaceuticals International

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.