Kiniksa Pharmaceuticals (NASDAQ:KNSA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $39.00 to $40.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 81.57% from the stock's current price.

Several other equities analysts have also commented on KNSA. Jefferies Financial Group began coverage on shares of Kiniksa Pharmaceuticals in a research report on Friday, September 13th. They issued a "buy" rating and a $40.00 price objective for the company. Wedbush raised their price objective on shares of Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 23rd. Finally, Evercore ISI lifted their price target on shares of Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $36.60.

Kiniksa Pharmaceuticals Stock Performance

NASDAQ KNSA traded up $0.55 on Tuesday, hitting $22.03. 373,476 shares of the stock were exchanged, compared to its average volume of 412,518. The stock has a fifty day moving average price of $25.28 and a two-hundred day moving average price of $22.57. The firm has a market capitalization of $1.57 billion, a P/E ratio of -156.85 and a beta of 0.35. Kiniksa Pharmaceuticals has a 52-week low of $14.12 and a 52-week high of $28.15.

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.17). Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. The business had revenue of $112.21 million during the quarter, compared to analysts' expectations of $111.51 million. During the same period last year, the company earned ($0.20) earnings per share. The firm's revenue was up 67.4% compared to the same quarter last year. Sell-side analysts expect that Kiniksa Pharmaceuticals will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Kiniksa Pharmaceuticals

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KNSA. CWM LLC boosted its position in Kiniksa Pharmaceuticals by 443.0% during the 3rd quarter. CWM LLC now owns 2,449 shares of the company's stock valued at $61,000 after purchasing an additional 1,998 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Kiniksa Pharmaceuticals during the first quarter valued at $71,000. nVerses Capital LLC acquired a new position in shares of Kiniksa Pharmaceuticals in the 3rd quarter valued at $80,000. Ashton Thomas Private Wealth LLC purchased a new position in Kiniksa Pharmaceuticals in the 2nd quarter worth about $100,000. Finally, Lynx1 Capital Management LP purchased a new position in Kiniksa Pharmaceuticals in the 2nd quarter worth about $177,000. Institutional investors and hedge funds own 53.95% of the company's stock.

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.