Kiniksa Pharmaceuticals (NASDAQ:KNSA) Earns Buy Rating from Analysts at Citigroup

Citigroup began coverage on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA - Free Report) in a research report sent to investors on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $40.00 target price on the stock.

Separately, Wedbush reaffirmed an "outperform" rating and set a $34.00 price objective on shares of Kiniksa Pharmaceuticals in a report on Tuesday, February 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $37.17.

Kiniksa Pharmaceuticals Stock Performance

Shares of KNSA stock traded up $0.36 during mid-day trading on Thursday, hitting $22.97. 373,960 shares of the stock were exchanged, compared to its average volume of 405,179. The stock's fifty day simple moving average is $19.99 and its two-hundred day simple moving average is $22.13. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -164.06 and a beta of 0.48. Kiniksa Pharmaceuticals has a 12-month low of $16.56 and a 12-month high of $28.15.

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The firm had revenue of $122.50 million for 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%. The business's revenue for the quarter was up 46.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 EPS. On average, research analysts expect that Kiniksa Pharmaceuticals will post -0.55 earnings per share for the current fiscal year.

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Insider Activity at Kiniksa Pharmaceuticals

In other news, CFO Mark Ragosa sold 36,372 shares of Kiniksa Pharmaceuticals stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael R. Megna sold 9,051 shares of Kiniksa Pharmaceuticals stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $22.45, for a total transaction of $203,194.95. Following the sale, the chief accounting officer now owns 26,528 shares of the company's stock, valued at approximately $595,553.60. The trade was a 25.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,423 shares of company stock worth $1,541,812 over the last 90 days. Company insiders own 54.57% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KNSA. Braidwell LP raised its position 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 worth $72,334,000 after purchasing an additional 836,210 shares during the last quarter. FMR LLC raised its position 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 worth $17,413,000 after purchasing an additional 694,928 shares during the last quarter. Jane Street Group LLC raised its position 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 worth $8,624,000 after purchasing an additional 315,456 shares during the last quarter. JPMorgan Chase & Co. raised its position 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 worth $9,451,000 after purchasing an additional 277,827 shares during the last quarter. Finally, Millennium Management LLC raised its position 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 worth $15,422,000 after purchasing an additional 263,146 shares during the last quarter. 53.95% of the stock is currently owned by institutional investors and hedge funds.

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.