Kiniksa Pharmaceuticals (NASDAQ:KNSA) Shares Down 5.1%

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) fell 5.1% on Monday . The stock traded as low as $17.38 and last traded at $17.72. 145,191 shares traded hands during trading, a decline of 63% from the average session volume of 394,035 shares. The stock had previously closed at $18.67.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KNSA. JPMorgan Chase & Co. raised their price objective on shares of Kiniksa Pharmaceuticals from $26.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Wells Fargo & Company initiated coverage on shares of Kiniksa Pharmaceuticals in a report on Friday, May 3rd. They issued an “overweight” rating and a $34.00 price target for the company. Evercore ISI raised 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. Finally, Wedbush reissued an “outperform” rating and issued a $30.00 price target on shares of Kiniksa Pharmaceuticals in a report on Tuesday, April 23rd. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $31.00.

Kiniksa Pharmaceuticals Price Performance

The stock has a market capitalization of $1.27 billion, a P/E ratio of 159.29 and a beta of 0.38. The business’s 50 day simple moving average is $19.03 and its 200-day simple moving average is $19.03.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.11). The business had revenue of $79.90 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.18) earnings per share. Research analysts anticipate that Kiniksa Pharmaceuticals, Ltd. will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in shares of Kiniksa Pharmaceuticals during the first quarter worth $71,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Kiniksa Pharmaceuticals by 349.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,097 shares of the company’s stock worth $72,000 after acquiring an additional 3,186 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of Kiniksa Pharmaceuticals during the first quarter worth $222,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Kiniksa Pharmaceuticals during the fourth quarter worth $213,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Kiniksa Pharmaceuticals during the first quarter worth $266,000. 53.95% of the stock is owned by institutional investors.

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.