Kiniksa Pharmaceuticals (NASDAQ:KNSA) Trading Up 4.4% – Still a Buy?

Shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) shot up 4.4% during mid-day trading on Thursday . The stock traded as high as $23.80 and last traded at $24.09. 104,316 shares traded hands during trading, a decline of 83% from the average session volume of 602,096 shares. The stock had previously closed at $23.08.

Analyst Ratings Changes

Several brokerages recently issued reports on KNSA. Wedbush reissued an “outperform” rating and set a $34.00 price objective on shares of Kiniksa Pharmaceuticals in a report on Tuesday, February 25th. Citigroup assumed coverage on shares of Kiniksa Pharmaceuticals in a report on Thursday, March 13th. They set a “buy” rating and a $40.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $37.17.

Kiniksa Pharmaceuticals Stock Up 4.1 %

The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -171.70 and a beta of 0.48. The company’s 50 day simple moving average is $20.16 and its two-hundred day simple moving average is $22.08.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its earnings results 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). The firm had revenue of $122.50 million during the quarter, compared to analyst estimates of $123.42 million. Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. Kiniksa Pharmaceuticals’s revenue was up 46.9% on a year-over-year basis. During the same quarter last year, the business earned $0.35 earnings per share. Analysts anticipate that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current year.

Insider Transactions at Kiniksa Pharmaceuticals

In other news, COO Eben Tessari sold 14,000 shares of Kiniksa Pharmaceuticals stock in a transaction on Monday, January 13th. The shares were sold at an average price of $18.24, for a total transaction of $255,360.00. Following the completion of the sale, the chief operating officer now directly owns 88,975 shares in the company, valued at approximately $1,622,904. The trade was a 13.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Ragosa sold 36,372 shares of Kiniksa Pharmaceuticals stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $22.25, for a total transaction of $809,277.00. Following the sale, the chief financial officer now owns 22,958 shares of the company’s stock, valued at $510,815.50. The trade was a 61.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,766 shares of company stock worth $2,011,735. Company insiders own 54.57% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new position in Kiniksa Pharmaceuticals during the third quarter valued at $1,192,000. JPMorgan Chase & Co. acquired a new position in Kiniksa Pharmaceuticals during the third quarter valued at $4,997,000. Parkman Healthcare Partners LLC lifted its position in Kiniksa Pharmaceuticals by 16.7% during the third quarter. Parkman Healthcare Partners LLC now owns 755,244 shares of the company’s stock valued at $18,874,000 after purchasing an additional 108,102 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Kiniksa Pharmaceuticals during the third quarter valued at $675,000. Finally, SG Americas Securities LLC acquired a new position in Kiniksa Pharmaceuticals during the fourth quarter valued at $355,000. 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.