Kiniksa Pharmaceuticals (NASDAQ:KNSA) Sets New 1-Year High – Time to Buy?

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) reached a new 52-week high during trading on Monday . The stock traded as high as $30.60 and last traded at $30.35, with a volume of 37954 shares changing hands. The stock had previously closed at $30.23.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Jefferies Financial Group upped their price objective on shares of Kiniksa Pharmaceuticals from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Wedbush reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Kiniksa Pharmaceuticals in a report on Wednesday, April 16th. Wall Street Zen downgraded shares of Kiniksa Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, June 6th. Finally, Citigroup assumed coverage on shares of Kiniksa Pharmaceuticals in a report on Thursday, March 13th. They set a “buy” rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

Kiniksa Pharmaceuticals Stock Down 1.8%

The company has a 50-day moving average price of $24.60 and a two-hundred day moving average price of $22.03. The stock has a market capitalization of $2.17 billion, a P/E ratio of -212.63 and a beta of 0.06.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.09. Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. The firm had revenue of $137.79 million for the quarter, compared to analysts’ expectations of $128.35 million. During the same period in the prior year, the business posted ($0.25) earnings per share. The company’s revenue was up 72.5% on a year-over-year basis. On average, sell-side analysts expect that Kiniksa Pharmaceuticals, Ltd. will post -0.55 earnings per share for the current year.

Insider Activity

In related news, COO Eben Tessari sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $20.48, for a total value of $245,760.00. Following the sale, the chief operating officer now directly owns 77,363 shares of the company’s stock, valued at $1,584,394.24. This trade represents a 13.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sanj K. Patel sold 2,872 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $27.03, for a total transaction of $77,630.16. Following the completion of the sale, the chief executive officer now directly owns 96,674 shares in the company, valued at $2,613,098.22. This represents a 2.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 345,591 shares of company stock worth $9,088,671 over the last ninety days. Company insiders own 54.57% of the company’s stock.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nuveen LLC purchased a new stake in Kiniksa Pharmaceuticals in the first quarter worth approximately $16,992,000. Acadian Asset Management LLC boosted its stake in Kiniksa Pharmaceuticals by 170.3% in the first quarter. Acadian Asset Management LLC now owns 1,034,321 shares of the company’s stock worth $22,961,000 after buying an additional 651,700 shares in the last quarter. Braidwell LP boosted its stake in Kiniksa Pharmaceuticals by 19.3% in the fourth quarter. Braidwell LP now owns 3,452,447 shares of the company’s stock worth $68,289,000 after buying an additional 557,934 shares in the last quarter. AQR Capital Management LLC boosted its stake in Kiniksa Pharmaceuticals by 149.1% in the first quarter. AQR Capital Management LLC now owns 491,761 shares of the company’s stock worth $10,922,000 after buying an additional 294,319 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Kiniksa Pharmaceuticals by 138.9% in the fourth 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 in the last quarter. 53.95% of the stock is owned by hedge funds and other institutional investors.

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.