Kiniksa Pharmaceuticals (NASDAQ:KNSA) Now Covered by Analysts at Citigroup

Stock analysts at Citigroup started coverage on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a report issued on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $40.00 price target on the stock. Citigroup’s price objective indicates a potential upside of 76.91% from the company’s current price.

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

Kiniksa Pharmaceuticals Stock Performance

KNSA stock opened at $22.61 on Thursday. The firm has a market cap of $1.64 billion, a P/E ratio of -161.49 and a beta of 0.48. The firm’s fifty day moving average is $19.95 and its 200 day moving average is $22.22. Kiniksa Pharmaceuticals has a 52 week low of $16.56 and a 52 week high of $28.15.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last issued its earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The business had revenue of $122.50 million during the quarter, compared to analysts’ expectations of $123.42 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 46.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 EPS. As a group, analysts forecast that Kiniksa Pharmaceuticals will post -0.55 EPS for the current year.

Insiders Place Their Bets

In other Kiniksa Pharmaceuticals news, COO Eben Tessari sold 14,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $19.57, for a total value of $273,980.00. Following the sale, the chief operating officer now owns 81,975 shares of the company’s stock, valued at $1,604,250.75. This trade represents a 14.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Ragosa sold 36,372 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $22.25, for a total transaction of $809,277.00. Following the completion of the sale, the chief financial officer now directly owns 22,958 shares in the company, valued at approximately $510,815.50. This trade represents a 61.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,423 shares of company stock valued at $1,541,812 in the last quarter. Insiders own 54.57% of the company’s stock.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Braidwell LP boosted its stake in shares of Kiniksa Pharmaceuticals by 40.6% during the 3rd quarter. Braidwell LP now owns 2,894,513 shares of the company’s stock valued at $72,334,000 after purchasing an additional 836,210 shares in the last quarter. FMR LLC boosted its stake in shares of Kiniksa Pharmaceuticals by 36,925.0% during the 3rd quarter. FMR LLC now owns 696,810 shares of the company’s stock valued at $17,413,000 after purchasing an additional 694,928 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Kiniksa Pharmaceuticals by 1,064.4% during the 3rd quarter. Jane Street Group LLC now owns 345,092 shares of the company’s stock valued at $8,624,000 after purchasing an additional 315,456 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Kiniksa Pharmaceuticals by 138.9% during the 4th quarter. JPMorgan Chase & Co. now owns 477,800 shares of the company’s stock valued at $9,451,000 after purchasing an additional 277,827 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Kiniksa Pharmaceuticals by 50.9% during the 4th quarter. Millennium Management LLC now owns 779,672 shares of the company’s stock valued at $15,422,000 after purchasing an additional 263,146 shares in the last quarter. 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.