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

Kiniksa Pharmaceuticals (NASDAQ:KNSA) had its price objective boosted by JPMorgan Chase & Co. from $26.00 to $30.00 in a report issued on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

KNSA has been the subject of several other reports. Wedbush restated an outperform rating and set a $30.00 price objective on shares of Kiniksa Pharmaceuticals in a research report on Tuesday, April 23rd. TheStreet raised Kiniksa Pharmaceuticals from a d+ rating to a c rating in a research note on Thursday, February 29th. Finally, Evercore ISI lifted their price target 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.

Kiniksa Pharmaceuticals Trading Up 3.6 %

Shares of KNSA opened at $19.40 on Wednesday. Kiniksa Pharmaceuticals has a 12 month low of $11.01 and a 12 month high of $22.09. The firm’s 50 day moving average is $19.17 and its 200-day moving average is $18.06. The stock has a market capitalization of $1.37 billion, a PE ratio of 176.38 and a beta of 0.32.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.25) earnings per share 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 analyst estimates of $76.97 million. Kiniksa Pharmaceuticals had a net margin of 2.78% and a negative return on equity of 7.26%. Kiniksa Pharmaceuticals’s revenue was up 65.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.18) earnings per share. Equities research analysts predict that Kiniksa Pharmaceuticals will post -0.04 earnings per share for the current fiscal year.

Insider Activity at Kiniksa Pharmaceuticals

In other news, CAO Michael R. Megna sold 5,126 shares of Kiniksa Pharmaceuticals stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $21.79, for a total transaction of $111,695.54. Following the transaction, the chief accounting officer now owns 17,588 shares in the company, valued at $383,242.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Sanj K. Patel sold 5,582 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $21.00, for a total transaction of $117,222.00. Following the completion of the sale, the chief executive officer now directly owns 65,012 shares in the company, valued at $1,365,252. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Michael R. Megna sold 5,126 shares of Kiniksa Pharmaceuticals stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $21.79, for a total transaction of $111,695.54. Following the completion of the sale, the chief accounting officer now owns 17,588 shares of the company’s stock, valued at approximately $383,242.52. The disclosure for this sale can be found here. Insiders sold a total of 33,109 shares of company stock worth $709,929 in the last quarter. 54.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in KNSA. China Universal Asset Management Co. Ltd. grew its stake in Kiniksa Pharmaceuticals by 349.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,097 shares of the company’s stock valued at $72,000 after acquiring an additional 3,186 shares during the period. Victory Capital Management Inc. purchased a new position in Kiniksa Pharmaceuticals during the third quarter worth about $176,000. Dynamic Technology Lab Private Ltd bought a new stake in Kiniksa Pharmaceuticals in the 4th quarter worth about $213,000. QRG Capital Management Inc. purchased a new stake in Kiniksa Pharmaceuticals in the 3rd quarter valued at about $249,000. Finally, SG Americas Securities LLC bought a new position in shares of Kiniksa Pharmaceuticals during the 4th quarter worth approximately $311,000. 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.