Kiniksa Pharmaceuticals (NASDAQ:KNSA) Research Coverage Started at Citigroup

Citigroup initiated coverage on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a report released on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $40.00 target price on the stock.

Separately, Wedbush reiterated an “outperform” rating and issued a $34.00 price target on shares of Kiniksa Pharmaceuticals in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Kiniksa Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $37.17.

Kiniksa Pharmaceuticals Stock Up 2.0 %

KNSA opened at $22.61 on Thursday. Kiniksa Pharmaceuticals has a 52-week low of $16.56 and a 52-week high of $28.15. The company has a market cap of $1.64 billion, a P/E ratio of -161.49 and a beta of 0.48. The firm’s 50-day moving average price is $19.99 and its 200-day moving average price is $22.16.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. The business had revenue of $122.50 million during the quarter, compared to analyst estimates of $123.42 million. During the same quarter last year, the company posted $0.35 EPS. Kiniksa Pharmaceuticals’s quarterly revenue was up 46.9% compared to the same quarter last year. On average, research analysts anticipate that Kiniksa Pharmaceuticals will post -0.55 EPS for the current fiscal year.

Insider Transactions at Kiniksa Pharmaceuticals

In other news, CFO Mark Ragosa sold 36,372 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $22.25, for a total transaction of $809,277.00. Following the sale, the chief financial officer now owns 22,958 shares of the company’s stock, valued at $510,815.50. This trade represents a 61.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Michael R. Megna sold 9,051 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $22.45, for a total transaction of $203,194.95. Following the sale, the chief accounting officer now directly owns 26,528 shares in the company, valued at $595,553.60. The trade was a 25.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,423 shares of company stock valued at $1,541,812 in the last 90 days. 54.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of Kiniksa Pharmaceuticals during the 3rd quarter valued at approximately $50,000. Lazard Asset Management LLC purchased a new position in shares of Kiniksa Pharmaceuticals during the 4th quarter valued at approximately $61,000. KLP Kapitalforvaltning AS purchased a new position in shares of Kiniksa Pharmaceuticals during the 4th quarter valued at approximately $158,000. Bellevue Group AG purchased a new position in shares of Kiniksa Pharmaceuticals during the 4th quarter valued at approximately $160,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Kiniksa Pharmaceuticals by 117.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,483 shares of the company’s stock valued at $168,000 after buying an additional 4,575 shares in the last quarter. 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.