Kiniksa Pharmaceuticals (NASDAQ:KNSA) Stock Price Up 4.4% - Here's Why

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Get Free Report)'s stock price was up 4.4% during trading on Thursday . The stock traded as high as $23.80 and last traded at $24.09. Approximately 104,316 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 602,096 shares. The stock had previously closed at $23.08.

Analysts Set New Price Targets

KNSA has been the subject of a number of recent analyst reports. Citigroup initiated coverage on Kiniksa Pharmaceuticals in a research note on Thursday, March 13th. They set a "buy" rating and a $40.00 price objective for the company. Wedbush reiterated an "outperform" rating and set a $34.00 target price on shares of Kiniksa Pharmaceuticals in a research note on Tuesday, February 25th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $37.17.

Kiniksa Pharmaceuticals Price Performance

The stock's fifty day simple moving average is $20.30 and its two-hundred day simple moving average is $22.01. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -167.32 and a beta of 0.48.

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. The business had revenue of $122.50 million for the quarter, compared to analyst estimates of $123.42 million. During the same quarter last year, the company earned $0.35 EPS. Kiniksa Pharmaceuticals's revenue was up 46.9% compared to the same quarter last year. On average, sell-side analysts predict that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current year.

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Insider Activity at Kiniksa Pharmaceuticals

In related news, CFO Mark Ragosa sold 8,879 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $23.10, for a total value of $205,104.90. Following the sale, the chief financial officer now owns 23,382 shares of the company's stock, valued at $540,124.20. This trade represents a 27.52 % 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, COO Eben Tessari sold 14,000 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $19.57, for a total transaction of $273,980.00. Following the transaction, the chief operating officer now directly owns 81,975 shares of the company's stock, valued at $1,604,250.75. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,766 shares of company stock worth $2,011,735 in the last 90 days. 54.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new stake in Kiniksa Pharmaceuticals in the 3rd quarter valued at approximately $50,000. Lazard Asset Management LLC bought a new position in shares of Kiniksa Pharmaceuticals in the fourth quarter worth $61,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Kiniksa Pharmaceuticals during the third quarter valued at $189,000. KLP Kapitalforvaltning AS bought a new stake in shares of Kiniksa Pharmaceuticals during the fourth quarter valued at about $158,000. Finally, Bellevue Group AG acquired a new stake in Kiniksa Pharmaceuticals in the fourth quarter worth about $160,000. 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.