JPMorgan Chase & Co. Boosts Kiniksa Pharmaceuticals (NASDAQ:KNSA) Price Target to $30.00

Kiniksa Pharmaceuticals (NASDAQ:KNSA) had its target price upped by JPMorgan Chase & Co. from $26.00 to $30.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also recently issued reports on KNSA. TheStreet upgraded Kiniksa Pharmaceuticals from a d+ rating to a c rating in a research report on Thursday, February 29th. Evercore ISI boosted their target price on Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the stock an outperform rating in a research report on Wednesday, April 24th. Finally, Wedbush reiterated an outperform rating and set a $30.00 target price on shares of Kiniksa Pharmaceuticals in a research report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Kiniksa Pharmaceuticals currently has an average rating of Buy and a consensus target price of $31.00.

Kiniksa Pharmaceuticals Stock Up 3.6 %

KNSA opened at $20.08 on Wednesday. The business has a 50 day moving average price of $19.16 and a two-hundred day moving average price of $18.11. The company has a market cap of $1.42 billion, a PE ratio of 182.56 and a beta of 0.32. Kiniksa Pharmaceuticals has a 52 week low of $12.69 and a 52 week high of $22.09.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.11). The company had revenue of $79.90 million for the quarter, compared to analysts’ expectations of $76.97 million. Kiniksa Pharmaceuticals had a net margin of 2.78% and a negative return on equity of 7.26%. The firm’s revenue was up 65.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.18) earnings per share. As a group, sell-side analysts expect that Kiniksa Pharmaceuticals will post -0.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sanj K. Patel sold 12,742 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $21.49, for a total value of $273,825.58. Following the sale, the chief executive officer now owns 70,594 shares in the company, valued at approximately $1,517,065.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sanj K. Patel sold 12,742 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $21.49, for a total value of $273,825.58. Following the sale, the chief executive officer now owns 70,594 shares in the company, valued at approximately $1,517,065.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Michael R. Megna sold 9,659 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $21.45, for a total value of $207,185.55. Following the completion of the sale, the chief accounting officer now owns 17,588 shares in the company, valued at approximately $377,262.60. The disclosure for this sale can be found here. Insiders have sold a total of 33,109 shares of company stock worth $709,929 in the last quarter. Company insiders own 54.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC boosted its stake in shares of Kiniksa Pharmaceuticals by 0.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 172,740 shares of the company’s stock worth $3,408,000 after purchasing an additional 850 shares during the last quarter. Tejara Capital Ltd boosted its position in Kiniksa Pharmaceuticals by 3.2% during the third quarter. Tejara Capital Ltd now owns 35,000 shares of the company’s stock worth $608,000 after acquiring an additional 1,069 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Kiniksa Pharmaceuticals by 5.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,935 shares of the company’s stock worth $413,000 after acquiring an additional 1,153 shares during the period. Los Angeles Capital Management LLC raised its holdings in Kiniksa Pharmaceuticals by 1.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 147,182 shares of the company’s stock valued at $2,582,000 after acquiring an additional 1,540 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of Kiniksa Pharmaceuticals by 11.7% during the 4th quarter. QRG Capital Management Inc. now owns 16,010 shares of the company’s stock worth $281,000 after purchasing an additional 1,679 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.