Kiniksa Pharmaceuticals (NASDAQ:KNSA) Given New $35.00 Price Target at Evercore ISI

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Free Report) had its price target boosted by Evercore ISI from $30.00 to $35.00 in a research report released on Wednesday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on KNSA. Jefferies Financial Group initiated coverage on Kiniksa Pharmaceuticals in a research note on Friday, September 13th. They issued a "buy" rating and a $40.00 price target for the company. Wedbush upped their target price on shares of Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the company an "outperform" rating in a research note on Tuesday, July 23rd. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $34.60.

Kiniksa Pharmaceuticals Stock Down 1.1 %

Shares of NASDAQ KNSA traded down $0.25 during trading on Wednesday, reaching $23.01. The company had a trading volume of 357,720 shares, compared to its average volume of 412,508. Kiniksa Pharmaceuticals has a 12-month low of $14.12 and a 12-month high of $28.15. The business's 50-day moving average is $25.57 and its 200 day moving average is $22.42. The stock has a market cap of $1.64 billion, a PE ratio of -143.81 and a beta of 0.33.

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.17). The firm had revenue of $112.21 million during the quarter, compared to the consensus estimate of $111.51 million. Kiniksa Pharmaceuticals had a negative return on equity of 7.79% and a negative net margin of 3.10%. The business's revenue for the quarter was up 67.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.20) EPS. On average, analysts anticipate that Kiniksa Pharmaceuticals will post -0.29 earnings per share for the current year.

Insider Buying and Selling

In other Kiniksa Pharmaceuticals news, COO Eben Tessari sold 17,000 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.87, for a total value of $456,790.00. Following the sale, the chief operating officer now owns 109,975 shares in the company, valued at $2,955,028.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Eben Tessari sold 17,000 shares of the firm's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.87, for a total value of $456,790.00. Following the completion of the transaction, the chief operating officer now directly owns 109,975 shares of the company's stock, valued at approximately $2,955,028.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John F. Paolini sold 60,692 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $26.12, for a total transaction of $1,585,275.04. Following the sale, the insider now directly owns 52,038 shares in the company, valued at approximately $1,359,232.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,692 shares of company stock worth $2,950,315. 54.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Hhlr Advisors LTD. purchased a new position in shares of Kiniksa Pharmaceuticals during the first quarter valued at approximately $61,868,000. Millennium Management LLC increased its position in shares of Kiniksa Pharmaceuticals by 159.8% during the second quarter. Millennium Management LLC now owns 621,948 shares of the company's stock worth $11,612,000 after acquiring an additional 382,539 shares during the period. Rubric Capital Management LP raised its position in Kiniksa Pharmaceuticals by 10.2% during the 2nd quarter. Rubric Capital Management LP now owns 2,419,103 shares of the company's stock valued at $45,165,000 after purchasing an additional 223,094 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Kiniksa Pharmaceuticals by 31.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 664,040 shares of the company's stock worth $12,398,000 after buying an additional 157,741 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new position in shares of Kiniksa Pharmaceuticals during the first quarter valued at $3,107,000. 53.95% of the stock is owned by institutional investors.

About Kiniksa Pharmaceuticals

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.