Kiniksa Pharmaceuticals International (NASDAQ:KNSA) Shares Gap Down After Earnings Miss

Kiniksa Pharmaceuticals International, plc (NASDAQ:KNSA)’s share price gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $47.39, but opened at $42.75. Kiniksa Pharmaceuticals International shares last traded at $45.3940, with a volume of 187,028 shares.

The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.20). Kiniksa Pharmaceuticals International had a net margin of 6.01% and a return on equity of 7.46%. The business had revenue of $202.13 million during the quarter, compared to analysts’ expectations of $200.86 million. During the same period in the prior year, the company posted ($0.12) EPS. The company’s revenue for the quarter was up 65.0% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KNSA. Zacks Research cut shares of Kiniksa Pharmaceuticals International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. The Goldman Sachs Group increased their price target on Kiniksa Pharmaceuticals International from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Kiniksa Pharmaceuticals International in a report on Thursday, January 22nd. Wedbush boosted their price target on shares of Kiniksa Pharmaceuticals International from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 13th. Finally, Canaccord Genuity Group began coverage on Kiniksa Pharmaceuticals International in a research report on Thursday, February 19th. They set a “buy” rating and a $62.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.71.

Insider Transactions at Kiniksa Pharmaceuticals International

In related news, CFO Mark Ragosa sold 42,841 shares of Kiniksa Pharmaceuticals International stock in a transaction on Monday, December 8th. The stock was sold at an average price of $41.49, for a total transaction of $1,777,473.09. Following the completion of the sale, the chief financial officer owned 31,086 shares of the company’s stock, valued at approximately $1,289,758.14. This trade represents a 57.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry D. Quart sold 20,129 shares of Kiniksa Pharmaceuticals International stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $41.51, for a total value of $835,554.79. Following the sale, the director owned 12,546 shares of the company’s stock, valued at approximately $520,784.46. This represents a 61.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 123,823 shares of company stock valued at $5,244,967. 53.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals International

Several institutional investors and hedge funds have recently added to or reduced their stakes in KNSA. Amundi acquired a new stake in shares of Kiniksa Pharmaceuticals International in the first quarter worth $348,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Kiniksa Pharmaceuticals International by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,843 shares of the company’s stock worth $507,000 after buying an additional 1,002 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Kiniksa Pharmaceuticals International by 8.7% during the 1st quarter. Millennium Management LLC now owns 847,124 shares of the company’s stock worth $18,815,000 after purchasing an additional 67,452 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in Kiniksa Pharmaceuticals International by 624.2% in the 2nd quarter. Asset Management One Co. Ltd. now owns 13,470 shares of the company’s stock valued at $373,000 after buying an additional 11,610 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in Kiniksa Pharmaceuticals International in the second quarter worth about $1,648,000. 53.95% of the stock is currently owned by institutional investors and hedge funds.

Kiniksa Pharmaceuticals International Trading Down 4.0%

The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 100.84 and a beta of 0.06. The stock has a fifty day moving average price of $42.83 and a 200-day moving average price of $39.56.

About Kiniksa Pharmaceuticals International

Kiniksa Pharmaceuticals International, Inc is a biopharmaceutical company focused on discovering, acquiring and developing therapeutics for patients suffering from lifethreatening and debilitating immune-mediated diseases. Founded in 2013 and headquartered in Lexington, Massachusetts, Kiniksa applies a patient-centric approach to build a diversified portfolio of marketed medicines and clinical-stage candidates targeting inflammation and immunology. The company’s core mission is to address complex conditions with significant unmet medical needs by advancing both novel and differentiated therapies.

The company’s lead marketed product is Ilaris (canakinumab), an interleukin-1β blocker licensed for the treatment of cryopyrin-associated periodic syndromes, systemic juvenile idiopathic arthritis, adult-onset Still’s disease and Schnitzler syndrome.