Wedbush Reaffirms “Outperform” Rating for Kiniksa Pharmaceuticals (NASDAQ:KNSA)

Wedbush restated their outperform rating on shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) in a research report released on Tuesday morning, RTT News reports. The firm currently has a $30.00 price target on the stock. Wedbush also issued estimates for Kiniksa Pharmaceuticals’ Q2 2024 earnings at ($0.06) EPS, Q3 2024 earnings at ($0.02) EPS, Q4 2024 earnings at $0.01 EPS, FY2024 earnings at ($0.32) EPS, Q1 2025 earnings at $0.02 EPS, Q2 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.07 EPS, Q4 2025 earnings at $0.12 EPS, FY2025 earnings at $0.24 EPS, FY2026 earnings at $0.80 EPS and FY2027 earnings at $1.26 EPS.

Separately, TheStreet upgraded Kiniksa Pharmaceuticals from a d+ rating to a c rating in a research note on Thursday, February 29th.

Kiniksa Pharmaceuticals Stock Up 1.5 %

Shares of Kiniksa Pharmaceuticals stock opened at $17.88 on Tuesday. Kiniksa Pharmaceuticals has a 12-month low of $10.65 and a 12-month high of $22.09. The business’s 50 day moving average is $19.27 and its 200-day moving average is $18.00. The stock has a market cap of $1.26 billion, a P/E ratio of 162.55 and a beta of 0.27.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.11). Kiniksa Pharmaceuticals had a net margin of 2.78% and a negative return on equity of 7.32%. The business had revenue of $79.90 million during the quarter, compared to the consensus estimate of $76.97 million. During the same quarter last year, the company posted ($0.18) EPS. The firm’s revenue was up 65.4% on a year-over-year basis. On average, sell-side analysts expect that Kiniksa Pharmaceuticals will post 0.06 EPS for the current year.

Insiders Place Their Bets

In other Kiniksa Pharmaceuticals news, CEO Sanj K. Patel sold 12,742 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $21.49, for a total transaction of $273,825.58. Following the transaction, the chief executive officer now owns 70,594 shares in the company, valued at approximately $1,517,065.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Michael R. Megna sold 5,126 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $21.79, for a total transaction of $111,695.54. Following the sale, the chief accounting officer now directly owns 17,588 shares of the company’s stock, valued at approximately $383,242.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sanj K. Patel sold 12,742 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $21.49, for a total value of $273,825.58. Following the sale, the chief executive officer now directly owns 70,594 shares in the company, valued at $1,517,065.06. The disclosure for this sale can be found here. Insiders have sold 33,109 shares of company stock worth $709,929 in the last 90 days. Company insiders own 54.23% of the company’s stock.

Institutional Trading of Kiniksa Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Granahan Investment Management LLC grew its holdings in shares of Kiniksa Pharmaceuticals by 35.2% during the 4th quarter. Granahan Investment Management LLC now owns 722,388 shares of the company’s stock worth $12,671,000 after purchasing an additional 188,174 shares in the last quarter. Parkman Healthcare Partners LLC grew its holdings in shares of Kiniksa Pharmaceuticals by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 615,693 shares of the company’s stock worth $10,799,000 after purchasing an additional 105,883 shares in the last quarter. Altitude Crest Partners Inc. acquired a new stake in shares of Kiniksa Pharmaceuticals during the 4th quarter worth $7,999,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Kiniksa Pharmaceuticals by 59.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 256,932 shares of the company’s stock valued at $4,463,000 after buying an additional 96,288 shares in the last quarter. Finally, Peregrine Capital Management LLC acquired a new stake in Kiniksa Pharmaceuticals in the first quarter valued at about $4,657,000. 53.95% of the stock is owned by institutional investors and hedge funds.

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.