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

Kiniksa Pharmaceuticals (NASDAQ:KNSA) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $39.00 to $40.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 73.69% from the stock’s current price.

A number of other equities analysts have also recently issued reports on KNSA. Evercore ISI increased their price objective on shares of Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wedbush lifted their price objective on 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 initiated coverage on Kiniksa Pharmaceuticals in a research report on Friday, September 13th. They set a “buy” rating and a $40.00 target price for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $36.60.

Kiniksa Pharmaceuticals Stock Performance

Shares of KNSA opened at $23.03 on Tuesday. Kiniksa Pharmaceuticals has a 52 week low of $14.12 and a 52 week high of $28.15. The firm has a market capitalization of $1.64 billion, a P/E ratio of -164.50 and a beta of 0.35. The company has a 50-day simple moving average of $25.11 and a 200-day simple moving average of $22.61.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings data 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). The firm had revenue of $112.21 million for the quarter, compared to analyst estimates of $111.51 million. Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. Kiniksa Pharmaceuticals’s revenue for the quarter was up 67.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.20) EPS. As a group, equities analysts forecast that Kiniksa Pharmaceuticals will post -0.47 earnings per share for the current year.

Insider Transactions at Kiniksa Pharmaceuticals

In other 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 transaction, the insider now directly owns 52,038 shares of the company’s stock, valued at $1,359,232.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Eben Tessari sold 17,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $26.87, for a total value of $456,790.00. Following the completion of the sale, the chief operating officer now directly owns 109,975 shares in the company, valued at approximately $2,955,028.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John F. Paolini sold 60,692 shares of Kiniksa Pharmaceuticals stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $26.12, for a total value of $1,585,275.04. Following the completion of the transaction, the insider now directly owns 52,038 shares of the company’s stock, valued at $1,359,232.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,692 shares of company stock valued at $2,950,315. Corporate insiders own 54.57% of the company’s stock.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its stake in shares of Kiniksa Pharmaceuticals by 443.0% during the third quarter. CWM LLC now owns 2,449 shares of the company’s stock valued at $61,000 after purchasing an additional 1,998 shares during the last quarter. nVerses Capital LLC bought a new position in Kiniksa Pharmaceuticals in the 3rd quarter valued at $80,000. Lazard Asset Management LLC acquired a new stake in shares of Kiniksa Pharmaceuticals in the 1st quarter valued at $71,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Kiniksa Pharmaceuticals during the second quarter worth $100,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Kiniksa Pharmaceuticals by 65.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,810 shares of the company’s stock valued at $195,000 after acquiring an additional 3,076 shares during the period. Institutional investors and hedge funds own 53.95% of the company’s stock.

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.