BofA Securities Increases Kiniksa Pharmaceuticals (NASDAQ:KNSA) Price Target to $40.00

Kiniksa Pharmaceuticals (NASDAQ:KNSA) had its target price hoisted by stock analysts at BofA Securities from $25.00 to $40.00 in a research note issued on Monday, Briefing.com Automated Import reports. The brokerage currently has a “buy” rating on the stock. BofA Securities’ price target would suggest a potential upside of 53.85% from the company’s previous close.

Several other equities analysts have also recently commented on KNSA. Wedbush boosted their target price on shares of Kiniksa Pharmaceuticals from $30.00 to $38.00 in a research report on Monday. Zacks Investment Research upgraded shares of Kiniksa Pharmaceuticals from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Thursday, April 23rd. ValuEngine upgraded shares of Kiniksa Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, March 30th. JPMorgan Chase & Co. upped their price objective on shares of Kiniksa Pharmaceuticals from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, March 11th. Finally, BidaskClub raised shares of Kiniksa Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. Nine research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $31.14.

Shares of NASDAQ KNSA opened at $26.00 on Monday. Kiniksa Pharmaceuticals has a twelve month low of $5.01 and a twelve month high of $28.67. The company’s fifty day moving average is $22.21 and its 200-day moving average is $17.52. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -11.66 and a beta of -0.02.

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

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

Institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. bought a new position in shares of Kiniksa Pharmaceuticals in the first quarter valued at $34,000. Citigroup Inc. lifted its stake in shares of Kiniksa Pharmaceuticals by 138.2% in the fourth quarter. Citigroup Inc. now owns 2,797 shares of the company’s stock valued at $31,000 after buying an additional 1,623 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Kiniksa Pharmaceuticals by 101.9% in the first quarter. BNP Paribas Arbitrage SA now owns 4,526 shares of the company’s stock valued at $70,000 after buying an additional 2,284 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Kiniksa Pharmaceuticals in the first quarter valued at $88,000. Finally, Exane Derivatives bought a new position in shares of Kiniksa Pharmaceuticals in the first quarter valued at $91,000. 31.79% of the stock is currently owned by hedge funds and other 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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Analyst Recommendations for Kiniksa Pharmaceuticals (NASDAQ:KNSA)

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