Wells Fargo & Company Begins Coverage on Kiniksa Pharmaceuticals (NASDAQ:KNSA)

Wells Fargo & Company initiated coverage on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a research note published on Friday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $34.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Kiniksa Pharmaceuticals from $26.00 to $30.00 and gave the company an overweight rating in a report on Wednesday, May 1st. Wedbush reissued an outperform rating and set a $30.00 price objective on shares of Kiniksa Pharmaceuticals in a report on Tuesday, April 23rd. TheStreet upgraded Kiniksa Pharmaceuticals from a d+ rating to a c rating in a report on Thursday, February 29th. Finally, Evercore ISI lifted their price objective on shares of Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the stock an outperform rating in a report on Wednesday, April 24th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $31.00.

Kiniksa Pharmaceuticals Stock Down 0.4 %

KNSA traded down $0.09 during trading on Friday, reaching $19.99. 260,881 shares of the stock traded hands, compared to its average volume of 406,811. The stock’s 50-day moving average is $19.16 and its 200 day moving average is $18.13. Kiniksa Pharmaceuticals has a 12 month low of $12.94 and a 12 month high of $22.09. The stock has a market capitalization of $1.41 billion, a PE ratio of 182.55 and a beta of 0.32.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its earnings results on Tuesday, April 23rd. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.11). Kiniksa Pharmaceuticals had a net margin of 2.78% and a negative return on equity of 7.26%. The business had revenue of $79.90 million for the quarter, compared to the consensus estimate of $76.97 million. During the same quarter in the previous year, the company earned ($0.18) EPS. The firm’s revenue for the quarter was up 65.4% on a year-over-year basis. As a group, equities research analysts anticipate that Kiniksa Pharmaceuticals will post -0.1 EPS for the current year.

Insider Transactions at Kiniksa Pharmaceuticals

In related news, CEO Sanj K. Patel sold 5,582 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $21.00, for a total transaction of $117,222.00. Following the completion of the transaction, the chief executive officer now owns 65,012 shares in the company, valued at $1,365,252. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Kiniksa Pharmaceuticals news, CEO Sanj K. Patel sold 5,582 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $21.00, for a total value of $117,222.00. Following the transaction, the chief executive officer now directly owns 65,012 shares in the company, valued at $1,365,252. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanj K. Patel sold 12,742 shares of the firm’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 transaction of $273,825.58. Following the sale, the chief executive officer now owns 70,594 shares of the company’s stock, valued at approximately $1,517,065.06. The disclosure for this sale can be found here. Insiders have sold 33,109 shares of company stock worth $709,929 in the last ninety days. Company insiders own 54.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Granahan Investment Management LLC raised its position in shares of Kiniksa Pharmaceuticals by 35.2% in the fourth quarter. Granahan Investment Management LLC now owns 722,388 shares of the company’s stock valued at $12,671,000 after purchasing an additional 188,174 shares during the period. Parkman Healthcare Partners LLC lifted its position in shares of Kiniksa Pharmaceuticals by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 615,693 shares of the company’s stock worth $10,799,000 after acquiring an additional 105,883 shares in the last quarter. Altitude Crest Partners Inc. bought a new position in shares of Kiniksa Pharmaceuticals in the fourth quarter worth $7,999,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Kiniksa Pharmaceuticals by 59.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 256,932 shares of the company’s stock valued at $4,463,000 after purchasing an additional 96,288 shares in the last quarter. Finally, Peregrine Capital Management LLC bought a new stake in shares of Kiniksa Pharmaceuticals during the 1st quarter valued at $4,657,000. Institutional investors 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.