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

Kiniksa Pharmaceuticals (NASDAQ:KNSA) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $26.00 to $30.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 49.40% from the stock’s current price.

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

Kiniksa Pharmaceuticals Trading Up 3.6 %

KNSA stock traded up $0.70 during trading hours on Wednesday, hitting $20.08. 403,798 shares of the stock were exchanged, compared to its average volume of 408,509. Kiniksa Pharmaceuticals has a 12 month low of $12.69 and a 12 month high of $22.09. The firm has a market capitalization of $1.42 billion, a P/E ratio of 182.56 and a beta of 0.32. The company has a 50-day simple moving average of $19.16 and a two-hundred day simple moving average of $18.08.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.11). The company had revenue of $79.90 million during the quarter, compared to the consensus estimate of $76.97 million. Kiniksa Pharmaceuticals had a net margin of 2.78% and a negative return on equity of 7.26%. The company’s quarterly revenue was up 65.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.18) earnings per share. On average, equities research analysts predict that Kiniksa Pharmaceuticals will post -0.04 earnings per share 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 value of $117,222.00. Following the completion of the sale, the chief executive officer now directly owns 65,012 shares of the company’s stock, valued at approximately $1,365,252. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Kiniksa Pharmaceuticals 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 completion of the transaction, the chief executive officer now directly owns 65,012 shares of the company’s stock, valued at $1,365,252. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Michael R. Megna sold 9,659 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $21.45, for a total value of $207,185.55. Following the completion of the sale, the chief accounting officer now directly owns 17,588 shares of the company’s stock, valued at $377,262.60. 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. Corporate insiders own 54.23% of the company’s stock.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

Several large investors have recently modified their holdings of KNSA. Granahan Investment Management LLC grew its stake in Kiniksa Pharmaceuticals by 35.2% in the 4th quarter. Granahan Investment Management LLC now owns 722,388 shares of the company’s stock valued at $12,671,000 after buying an additional 188,174 shares in the last quarter. Parkman Healthcare Partners LLC grew its position in shares of Kiniksa Pharmaceuticals by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 615,693 shares of the company’s stock valued at $10,799,000 after purchasing an additional 105,883 shares in the last quarter. Altitude Crest Partners Inc. bought a new stake in shares of Kiniksa Pharmaceuticals during the 4th quarter valued at $7,999,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Kiniksa Pharmaceuticals by 59.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 256,932 shares of the company’s stock worth $4,463,000 after purchasing an additional 96,288 shares in the last quarter. Finally, Peregrine Capital Management LLC purchased a new position in Kiniksa Pharmaceuticals during the 1st quarter valued at about $4,657,000. 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.