Kiniksa Pharmaceuticals (NASDAQ:KNSA) Price Target Raised to $40.00 at JPMorgan Chase & Co.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) had its target price increased by investment analysts at JPMorgan Chase & Co. from $39.00 to $40.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 84.84% from the stock’s current price.

KNSA has been the subject of several other research reports. Evercore ISI boosted their price objective on shares of Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wedbush boosted their price objective on shares of Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group started coverage on Kiniksa Pharmaceuticals in a research report on Friday, September 13th. They set a “buy” rating and a $40.00 price target for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $36.60.

Kiniksa Pharmaceuticals Stock Up 0.7 %

Shares of NASDAQ KNSA traded up $0.16 on Tuesday, reaching $21.64. 55,121 shares of the company’s stock traded hands, compared to its average volume of 411,030. Kiniksa Pharmaceuticals has a 12 month low of $14.12 and a 12 month high of $28.15. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -154.56 and a beta of 0.35. The business’s 50 day simple moving average is $25.28 and its two-hundred day simple moving average is $22.57.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.17). Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. The firm had revenue of $112.21 million for the quarter, compared to analysts’ expectations of $111.51 million. During the same period in the prior year, the firm earned ($0.20) EPS. Kiniksa Pharmaceuticals’s revenue for the quarter was up 67.4% compared to the same quarter last year. Analysts forecast that Kiniksa Pharmaceuticals will post -0.47 earnings per share for the current fiscal year.

Insider Activity

In other Kiniksa Pharmaceuticals news, COO Eben Tessari sold 17,500 shares of the company’s stock in a transaction 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Kiniksa Pharmaceuticals news, insider John F. Paolini sold 60,692 shares of the business’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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Eben Tessari sold 17,500 shares of the company’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 value of $470,925.00. Following the sale, the chief operating officer now owns 119,911 shares of the company’s stock, valued at $3,226,805.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,692 shares of company stock worth $2,950,315 over the last quarter. 54.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. Hhlr Advisors LTD. acquired a new position in Kiniksa Pharmaceuticals during the first quarter worth $61,868,000. Vanguard Group Inc. raised its holdings in Kiniksa Pharmaceuticals by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 2,981,894 shares of the company’s stock valued at $58,833,000 after acquiring an additional 16,595 shares during the last quarter. Rubric Capital Management LP lifted its stake in shares of Kiniksa Pharmaceuticals by 10.2% during the 2nd quarter. Rubric Capital Management LP now owns 2,419,103 shares of the company’s stock worth $45,165,000 after purchasing an additional 223,094 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Kiniksa Pharmaceuticals by 31.2% during the second quarter. Dimensional Fund Advisors LP now owns 664,040 shares of the company’s stock worth $12,398,000 after purchasing an additional 157,741 shares during the last quarter. Finally, Rice Hall James & Associates LLC grew its position in shares of Kiniksa Pharmaceuticals by 8.2% in the third quarter. Rice Hall James & Associates LLC now owns 649,630 shares of the company’s stock valued at $16,234,000 after purchasing an additional 49,000 shares during the period. Institutional investors and hedge funds own 53.95% of the company’s stock.

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.