Kiniksa Pharmaceuticals (NASDAQ:KNSA) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a research report sent to investors on Friday, Marketbeat reports. The firm issued an overweight rating and a $34.00 price target on the stock.

KNSA has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their target price on Kiniksa Pharmaceuticals from $26.00 to $30.00 and gave the stock an overweight rating in a research report on Wednesday. Evercore ISI boosted their price objective on shares of Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the stock an outperform rating in a research report on Wednesday, April 24th. TheStreet upgraded shares of Kiniksa Pharmaceuticals from a d+ rating to a c rating in a report on Thursday, February 29th. Finally, Wedbush reaffirmed an outperform rating and issued a $30.00 price target on shares of Kiniksa Pharmaceuticals in a report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Kiniksa Pharmaceuticals currently has a consensus rating of Buy and an average price target of $31.00.

Kiniksa Pharmaceuticals Stock Performance

NASDAQ:KNSA traded up $0.70 during trading hours on Friday, hitting $20.08. The company’s stock had a trading volume of 403,855 shares, compared to its average volume of 396,776. Kiniksa Pharmaceuticals has a 52-week low of $12.69 and a 52-week high of $22.09. The business’s 50-day moving average is $19.16 and its two-hundred day moving average is $18.11. The company has a market capitalization of $1.42 billion, a PE ratio of 182.56 and a beta of 0.32.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.11). The company had revenue of $79.90 million during the quarter, compared to analysts’ expectations of $76.97 million. Kiniksa Pharmaceuticals had a net margin of 2.78% and a negative return on equity of 7.26%. The business’s revenue for the quarter was up 65.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.18) EPS. As a group, analysts predict that Kiniksa Pharmaceuticals will post -0.04 EPS for the current fiscal year.

Insider Activity

In other Kiniksa Pharmaceuticals news, CAO Michael R. Megna sold 5,126 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $21.79, for a total value of $111,695.54. Following the transaction, the chief accounting officer now directly owns 17,588 shares in the company, valued at approximately $383,242.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Michael R. Megna sold 9,659 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $21.45, for a total transaction of $207,185.55. Following the sale, the chief accounting officer now owns 17,588 shares in the company, valued at $377,262.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael R. Megna sold 5,126 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $21.79, for a total value of $111,695.54. Following the completion of the transaction, the chief accounting officer now owns 17,588 shares of the company’s stock, valued at $383,242.52. The disclosure for this sale can be found here. Insiders have sold 33,109 shares of company stock worth $709,929 over the last three months. 54.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Kiniksa Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. boosted its position in shares of Kiniksa Pharmaceuticals by 349.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,097 shares of the company’s stock worth $72,000 after acquiring an additional 3,186 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Kiniksa Pharmaceuticals during the third quarter worth approximately $176,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Kiniksa Pharmaceuticals in the 4th quarter valued at $213,000. QRG Capital Management Inc. purchased a new stake in shares of Kiniksa Pharmaceuticals during the 3rd quarter valued at $249,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Kiniksa Pharmaceuticals during the 4th quarter worth $311,000. Hedge funds and other institutional investors 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.