Kiniksa Pharmaceuticals (NASDAQ:KNSA) Price Target Raised to $30.00 at JPMorgan Chase & Co.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) had its price target upped by equities researchers at JPMorgan Chase & Co. from $26.00 to $30.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 49.40% from the company’s previous close.

Several other equities research analysts have also commented on the company. Wedbush reissued an “outperform” rating and set a $30.00 price target on shares of Kiniksa Pharmaceuticals in a research note on Tuesday, April 23rd. TheStreet upgraded Kiniksa Pharmaceuticals from a “d+” rating to a “c” rating in a research report on Thursday, February 29th. Finally, Evercore ISI lifted their price target on Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kiniksa Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $31.00.

Kiniksa Pharmaceuticals Trading Up 3.6 %

Shares of Kiniksa Pharmaceuticals stock traded up $0.70 on Wednesday, reaching $20.08. 403,798 shares of the stock were exchanged, compared to its average volume of 408,509. The firm has a market capitalization of $1.42 billion, a PE ratio of 182.56 and a beta of 0.32. Kiniksa Pharmaceuticals has a 1-year low of $12.69 and a 1-year high of $22.09. The business has a fifty day moving average price of $19.16 and a two-hundred day moving average price of $18.08.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last issued its earnings results on Tuesday, April 23rd. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.11). Kiniksa Pharmaceuticals had a negative return on equity of 7.26% and a net margin of 2.78%. The company had revenue of $79.90 million for the quarter, compared to analysts’ expectations of $76.97 million. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. Kiniksa Pharmaceuticals’s revenue for the quarter was up 65.4% on a year-over-year basis. Research analysts expect that Kiniksa Pharmaceuticals will post -0.04 EPS for the current year.

Insider Transactions at Kiniksa Pharmaceuticals

In related news, CEO Sanj K. Patel sold 5,582 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $21.00, for a total transaction of $117,222.00. Following the sale, the chief executive officer now owns 65,012 shares of the company’s stock, valued at $1,365,252. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sanj K. Patel sold 12,742 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $21.49, for a total transaction of $273,825.58. Following the sale, the chief executive officer now owns 70,594 shares in the company, valued at $1,517,065.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanj K. Patel sold 5,582 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $21.00, for a total value of $117,222.00. Following the completion of the transaction, the chief executive officer now owns 65,012 shares of the company’s stock, valued at $1,365,252. The disclosure for this sale can be found here. Insiders sold a total of 33,109 shares of company stock valued at $709,929 over the last three months. 54.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tejara Capital Ltd increased its stake in shares of Kiniksa Pharmaceuticals by 3.2% during the 3rd quarter. Tejara Capital Ltd now owns 35,000 shares of the company’s stock valued at $608,000 after acquiring an additional 1,069 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Kiniksa Pharmaceuticals by 5.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,935 shares of the company’s stock worth $413,000 after buying an additional 1,153 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Kiniksa Pharmaceuticals by 1.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 147,182 shares of the company’s stock valued at $2,582,000 after acquiring an additional 1,540 shares during the last quarter. QRG Capital Management Inc. grew its position in Kiniksa Pharmaceuticals by 11.7% during the fourth quarter. QRG Capital Management Inc. now owns 16,010 shares of the company’s stock valued at $281,000 after acquiring an additional 1,679 shares during the period. Finally, Profund Advisors LLC increased its stake in Kiniksa Pharmaceuticals by 7.8% during the third quarter. Profund Advisors LLC now owns 23,506 shares of the company’s stock worth $408,000 after acquiring an additional 1,700 shares during the last quarter. Hedge funds and other 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.