Goldman Sachs Group Raises Kiniksa Pharmaceuticals (NASDAQ:KNSA) Price Target to $33.00

Kiniksa Pharmaceuticals (NASDAQ:KNSA) had its price target increased by research analysts at Goldman Sachs Group from $20.00 to $33.00 in a note issued to investors on Tuesday, The Fly reports. The firm currently has a “buy” rating on the stock. Goldman Sachs Group’s target price would suggest a potential upside of 29.97% from the company’s previous close.

KNSA has been the topic of several other research reports. Wedbush boosted their price objective on Kiniksa Pharmaceuticals from $30.00 to $38.00 in a report on Monday. JPMorgan Chase & Co. increased their price objective on Kiniksa Pharmaceuticals from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, March 11th. Bank of America began coverage on Kiniksa Pharmaceuticals in a research report on Wednesday, April 1st. They issued a “buy” rating and a $25.00 target price for the company. Zacks Investment Research raised Kiniksa Pharmaceuticals from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Thursday, April 23rd. Finally, BidaskClub raised Kiniksa Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Nine investment analysts have rated the stock with a buy rating, Kiniksa Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $31.14.

Shares of KNSA stock traded down $0.61 on Tuesday, hitting $25.39. The stock had a trading volume of 7,907 shares, compared to its average volume of 259,741. The firm has a market capitalization of $1.55 billion, a P/E ratio of -11.43 and a beta of -0.02. Kiniksa Pharmaceuticals has a 1 year low of $5.01 and a 1 year high of $28.67. The company’s 50 day moving average price is $22.10 and its 200-day moving average price is $17.45.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.15. Equities analysts forecast that Kiniksa Pharmaceuticals will post -2.31 earnings per share for the current fiscal year.

In related news, EVP Thomas W. Beetham sold 13,752 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $25.07, for a total value of $344,762.64. Following the completion of the transaction, the executive vice president now directly owns 43,341 shares of the company’s stock, valued at approximately $1,086,558.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas W. Beetham sold 47,423 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $19.06, for a total value of $903,882.38. Following the completion of the transaction, the executive vice president now directly owns 32,107 shares of the company’s stock, valued at $611,959.42. The disclosure for this sale can be found here. 59.92% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. ArrowMark Colorado Holdings LLC boosted its holdings in shares of Kiniksa Pharmaceuticals by 11.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,283,661 shares of the company’s stock worth $25,257,000 after purchasing an additional 238,153 shares during the last quarter. Vivo Capital LLC acquired a new stake in shares of Kiniksa Pharmaceuticals during the first quarter worth $11,750,000. Alyeska Investment Group L.P. boosted its holdings in Kiniksa Pharmaceuticals by 6.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 387,427 shares of the company’s stock valued at $4,285,000 after acquiring an additional 24,806 shares during the last quarter. Ikarian Capital LLC acquired a new position in Kiniksa Pharmaceuticals in the first quarter valued at $5,556,000. Finally, Spearhead Capital Advisors LLC acquired a new position in Kiniksa Pharmaceuticals in the first quarter valued at $4,192,000. 31.79% of the stock is owned by institutional investors.

About Kiniksa Pharmaceuticals

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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