Kiniksa Pharmaceuticals International (NASDAQ:KNSA) Sets New 52-Week High After Strong Earnings

Kiniksa Pharmaceuticals International, plc (NASDAQ:KNSA) shares reached a new 52-week high on Tuesday following a stronger than expected earnings report. The company traded as high as $31.92 and last traded at $30.13, with a volume of 203102 shares traded. The stock had previously closed at $27.04.

The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. The company had revenue of $156.80 million for the quarter, compared to analyst estimates of $145.21 million. Kiniksa Pharmaceuticals International had a return on equity of 1.08% and a net margin of 0.90%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KNSA. Wall Street Zen raised Kiniksa Pharmaceuticals International from a “hold” rating to a “buy” rating in a research note on Sunday, July 6th. Wedbush reissued an “outperform” rating and set a $36.00 price objective on shares of Kiniksa Pharmaceuticals International in a research note on Monday, July 21st. Wells Fargo & Company boosted their price objective on Kiniksa Pharmaceuticals International from $30.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 9th. Finally, Jefferies Financial Group boosted their price objective on Kiniksa Pharmaceuticals International from $45.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $41.17.

Insiders Place Their Bets

In other Kiniksa Pharmaceuticals International news, CEO Sanj K. Patel sold 62,116 shares of the company’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $27.33, for a total transaction of $1,697,630.28. Following the sale, the chief executive officer owned 96,674 shares in the company, valued at $2,642,100.42. This represents a 39.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Ragosa sold 18,299 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $28.80, for a total value of $527,011.20. Following the sale, the chief financial officer owned 27,009 shares in the company, valued at approximately $777,859.20. This trade represents a 40.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 320,981 shares of company stock worth $9,189,467. Corporate insiders own 53.48% of the company’s stock.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals International

Several large investors have recently bought and sold shares of KNSA. Teacher Retirement System of Texas grew its stake in Kiniksa Pharmaceuticals International by 7.1% during the 4th quarter. Teacher Retirement System of Texas now owns 10,862 shares of the company’s stock worth $215,000 after buying an additional 719 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Kiniksa Pharmaceuticals International during the 4th quarter worth approximately $158,000. JPMorgan Chase & Co. grew its stake in Kiniksa Pharmaceuticals International by 138.9% during the 4th quarter. JPMorgan Chase & Co. now owns 477,800 shares of the company’s stock worth $9,451,000 after buying an additional 277,827 shares during the last quarter. Wellington Management Group LLP grew its stake in Kiniksa Pharmaceuticals International by 46.3% during the 4th quarter. Wellington Management Group LLP now owns 69,813 shares of the company’s stock worth $1,381,000 after buying an additional 22,096 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Kiniksa Pharmaceuticals International by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 492,630 shares of the company’s stock worth $9,744,000 after buying an additional 9,654 shares during the last quarter. Hedge funds and other institutional investors own 53.95% of the company’s stock.

Kiniksa Pharmaceuticals International Stock Performance

The business has a 50-day simple moving average of $28.19 and a two-hundred day simple moving average of $23.89. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 751.69 and a beta of 0.05.

Kiniksa Pharmaceuticals International 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.