Kiniksa Pharmaceuticals International (NASDAQ:KNSA) Reaches New 12-Month High on Better-Than-Expected Earnings

Kiniksa Pharmaceuticals International, plc (NASDAQ:KNSA) reached a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $84.27 and last traded at $84.1270, with a volume of 46,358 shares changing hands. The stock had previously closed at $72.98.

The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.19. Kiniksa Pharmaceuticals International had a net margin of 9.59% and a return on equity of 13.65%. The business had revenue of $285.97 million during the quarter, compared to analysts’ expectations of $260.66 million.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings upgraded Kiniksa Pharmaceuticals International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Wall Street Zen downgraded Kiniksa Pharmaceuticals International from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. raised their price target on Kiniksa Pharmaceuticals International from $72.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Wells Fargo & Company started coverage on Kiniksa Pharmaceuticals International in a research note on Wednesday, September 30th. They issued an “overweight” rating and a $87.00 price target for the company. Finally, Wedbush increased their target price on Kiniksa Pharmaceuticals International from $72.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.14.

Insider Activity at Kiniksa Pharmaceuticals International

In other news, Director G. Bradley Cole sold 3,673 shares of Kiniksa Pharmaceuticals International stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $81.43, for a total transaction of $299,092.39. Following the sale, the director owned 11,672 shares in the company, valued at $950,450.96. This trade represents a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Michael R. Megna sold 4,600 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $80.30, for a total value of $369,380.00. Following the sale, the chief accounting officer owned 29,062 shares of the company’s stock, valued at approximately $2,333,678.60. This represents a 13.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 51.98% of the company’s stock.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP increased its position in Kiniksa Pharmaceuticals International by 42.0% in the second quarter. Allworth Financial LP now owns 453 shares of the company’s stock worth $29,000 after buying an additional 134 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Kiniksa Pharmaceuticals International by 2.1% during the second quarter. Arizona State Retirement System now owns 10,132 shares of the company’s stock worth $648,000 after purchasing an additional 209 shares during the period. GAMMA Investing LLC raised its stake in Kiniksa Pharmaceuticals International by 21.1% in the third quarter. GAMMA Investing LLC now owns 1,278 shares of the company’s stock worth $95,000 after buying an additional 223 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Kiniksa Pharmaceuticals International by 3.1% in the 1st quarter. First Trust Advisors LP now owns 9,876 shares of the company’s stock worth $476,000 after purchasing an additional 293 shares in the last quarter. Finally, Curry Webb Wealth Management LLC purchased a new stake in Kiniksa Pharmaceuticals International during the 3rd quarter valued at $29,000. 53.95% of the stock is owned by institutional investors and hedge funds.

Kiniksa Pharmaceuticals International Price Performance

The business has a 50-day moving average of $78.03 and a 200 day moving average of $59.00. The company has a market cap of $6.75 billion, a PE ratio of 89.96 and a beta of 0.04.

Kiniksa Pharmaceuticals International Company Profile

Kiniksa Pharmaceuticals International plc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for patients with serious and often under-treated immunological diseases. The company’s research and development efforts are centered on targeting specific pathways involved in inflammation and immune-system dysfunction.

Kiniksa’s principal commercial product is ARCALYST (rilonacept), an interleukin-1 inhibitor. In the United States, ARCALYST is approved for reducing the risk of recurrence in patients with recurrent pericarditis and for the treatment of cryopyrin-associated periodic syndromes, including familial cold autoinflammatory syndrome and Muckle-Wells syndrome, in eligible patients.

The company also maintains a pipeline of investigational medicines designed to address autoimmune and inflammatory conditions.