Evercore ISI Boosts Kiniksa Pharmaceuticals (NASDAQ:KNSA) Price Target to $30.00

Kiniksa Pharmaceuticals (NASDAQ:KNSA) had its price objective raised by research analysts at Evercore ISI from $25.00 to $30.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 68.35% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. TheStreet upgraded shares of Kiniksa Pharmaceuticals from a “d+” rating to a “c” rating in a report on Thursday, February 29th. Wedbush restated an “outperform” rating and issued a $30.00 target price on shares of Kiniksa Pharmaceuticals in a report on Tuesday.

Kiniksa Pharmaceuticals Stock Performance

Shares of NASDAQ:KNSA traded up $0.14 during trading on Wednesday, reaching $17.82. 199,856 shares of the stock traded hands, compared to its average volume of 400,010. The stock has a 50-day moving average of $19.36 and a two-hundred day moving average of $18.00. Kiniksa Pharmaceuticals has a 52-week low of $10.65 and a 52-week high of $22.09. The stock has a market cap of $1.26 billion, a P/E ratio of 99.51 and a beta of 0.27.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.11). Kiniksa Pharmaceuticals had a net margin of 5.11% and a negative return on equity of 6.12%. The firm had revenue of $79.90 million for the quarter, compared to analysts’ expectations of $76.97 million. During the same quarter in the previous year, the company earned ($0.18) EPS. The company’s quarterly revenue was up 65.4% compared to the same quarter last year. Sell-side analysts expect that Kiniksa Pharmaceuticals will post -0.06 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Kiniksa Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of Kiniksa Pharmaceuticals by 18.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 61,106 shares of the company’s stock valued at $1,206,000 after purchasing an additional 9,490 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in Kiniksa Pharmaceuticals by 29.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 124,878 shares of the company’s stock valued at $2,464,000 after acquiring an additional 28,237 shares during the last quarter. Opaleye Management Inc. bought a new stake in Kiniksa Pharmaceuticals in the 4th quarter valued at $640,000. Parkman Healthcare Partners LLC increased its holdings in Kiniksa Pharmaceuticals by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 615,693 shares of the company’s stock valued at $10,799,000 after acquiring an additional 105,883 shares during the last quarter. Finally, Granahan Investment Management LLC increased its holdings in Kiniksa Pharmaceuticals by 35.2% in the 4th quarter. Granahan Investment Management LLC now owns 722,388 shares of the company’s stock valued at $12,671,000 after acquiring an additional 188,174 shares during the last quarter. 53.95% of the stock is currently owned by institutional investors.

Kiniksa Pharmaceuticals Company Profile

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.