Kiniksa Pharmaceuticals (NASDAQ:KNSA) Given New $35.00 Price Target at Evercore ISI

Kiniksa Pharmaceuticals (NASDAQ:KNSA) had its price objective raised by Evercore ISI from $30.00 to $35.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also recently weighed in on the company. Jefferies Financial Group initiated coverage on Kiniksa Pharmaceuticals in a report on Friday, September 13th. They issued a “buy” rating and a $40.00 price target on the stock. Wedbush raised their price target on Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Kiniksa Pharmaceuticals presently has an average rating of “Buy” and an average target price of $34.60.

Kiniksa Pharmaceuticals Stock Performance

Shares of KNSA opened at $23.01 on Wednesday. The stock’s 50-day simple moving average is $25.57 and its 200 day simple moving average is $22.42. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -143.81 and a beta of 0.33. Kiniksa Pharmaceuticals has a 52-week low of $14.12 and a 52-week high of $28.15.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.17). Kiniksa Pharmaceuticals had a negative return on equity of 7.79% and a negative net margin of 3.10%. The company had revenue of $112.21 million for the quarter, compared to analysts’ expectations of $111.51 million. During the same period last year, the company posted ($0.20) EPS. The business’s revenue for the quarter was up 67.4% on a year-over-year basis. On average, research analysts forecast that Kiniksa Pharmaceuticals will post -0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Eben Tessari sold 17,500 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $26.91, for a total transaction of $470,925.00. Following the transaction, the chief operating officer now directly owns 119,911 shares in the company, valued at approximately $3,226,805.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Eben Tessari sold 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $26.91, for a total transaction of $470,925.00. Following the transaction, the chief operating officer now directly owns 119,911 shares in the company, valued at $3,226,805.01. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John F. Paolini sold 60,692 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $26.12, for a total value of $1,585,275.04. Following the transaction, the insider now owns 52,038 shares in the company, valued at approximately $1,359,232.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,692 shares of company stock worth $2,950,315. 54.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC grew its position in shares of Kiniksa Pharmaceuticals by 443.0% in the 3rd quarter. CWM LLC now owns 2,449 shares of the company’s stock worth $61,000 after buying an additional 1,998 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Kiniksa Pharmaceuticals in the 1st quarter worth approximately $71,000. nVerses Capital LLC bought a new stake in shares of Kiniksa Pharmaceuticals in the 3rd quarter worth approximately $80,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Kiniksa Pharmaceuticals in the 2nd quarter worth approximately $100,000. Finally, Lynx1 Capital Management LP bought a new stake in shares of Kiniksa Pharmaceuticals in the 2nd quarter worth approximately $177,000. 53.95% of the stock is currently owned by 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.