Kiniksa Pharmaceuticals (NASDAQ:KNSA) Upgraded to Hold by Zacks Investment Research

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Kiniksa Pharmaceuticals (NASDAQ:KNSA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Kiniksa Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company. It focuses on discovering, acquiring, developing and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical need. Kiniksa Pharmaceuticals Ltd. is based in Massachusetts, United States. “

A number of other brokerages have also recently issued reports on KNSA. Goldman Sachs Group raised Kiniksa Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their target price for the stock from $16.00 to $18.00 in a report on Friday, December 6th. ValuEngine lowered Kiniksa Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $21.75.

Shares of Kiniksa Pharmaceuticals stock opened at $15.54 on Wednesday. The company’s 50 day moving average price is $12.78 and its two-hundred day moving average price is $10.29. The firm has a market capitalization of $847.86 million, a P/E ratio of -4.68 and a beta of -0.95. Kiniksa Pharmaceuticals has a fifty-two week low of $5.01 and a fifty-two week high of $25.79.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.49) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.72) by $0.23. Research analysts expect that Kiniksa Pharmaceuticals will post -2.99 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. increased its position in Kiniksa Pharmaceuticals by 300.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 140,000 shares of the company’s stock valued at $1,191,000 after acquiring an additional 105,000 shares during the period. Northern Trust Corp grew its stake in shares of Kiniksa Pharmaceuticals by 17.1% in the second quarter. Northern Trust Corp now owns 154,899 shares of the company’s stock worth $2,097,000 after purchasing an additional 22,645 shares during the last quarter. Morgan Stanley grew its stake in shares of Kiniksa Pharmaceuticals by 54.2% in the second quarter. Morgan Stanley now owns 60,098 shares of the company’s stock worth $814,000 after purchasing an additional 21,130 shares during the last quarter. BlackRock Inc. increased its holdings in Kiniksa Pharmaceuticals by 14.4% in the second quarter. BlackRock Inc. now owns 1,107,091 shares of the company’s stock valued at $14,990,000 after purchasing an additional 139,072 shares during the period. Finally, State Street Corp increased its holdings in Kiniksa Pharmaceuticals by 4.2% in the third quarter. State Street Corp now owns 229,477 shares of the company’s stock valued at $1,953,000 after purchasing an additional 9,282 shares during the period. 29.85% of the stock is currently owned by hedge funds and other institutional investors.

Kiniksa Pharmaceuticals Company Profile

Kiniksa Pharmaceuticals, Ltd., a clinical-stage biopharmaceutical company, focuses on the discovering, acquiring, developing, and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical need worldwide. Its clinical-stage product candidates include Rilonacept, which is in Phase II clinical trials for the treatment of recurrent pericarditis, an inflammatory cardiovascular disease; Mavrilimumab, a monoclonal antibody for the treatment of giant cell arteritis; and KPL-716, a monoclonal antibody, which is in Phase 1a/1b clinical trial for the treatment of prurigo nodularis and atopic dermatitis.

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