Kiniksa Pharmaceuticals (KNSA) Upgraded by Zacks Investment Research to Buy

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Zacks Investment Research upgraded shares of Kiniksa Pharmaceuticals (NASDAQ:KNSA) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. The brokerage currently has $23.00 target price on the stock.

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. “

Other analysts have also issued research reports about the company. JMP Securities boosted their price target on Kiniksa Pharmaceuticals from $33.00 to $44.00 and gave the company an outperform rating in a report on Monday, September 17th. Wedbush reiterated an outperform rating and issued a $31.00 price target on shares of Kiniksa Pharmaceuticals in a report on Tuesday, September 11th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $31.75.

KNSA opened at $19.94 on Wednesday. Kiniksa Pharmaceuticals has a one year low of $13.04 and a one year high of $32.88.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last released its earnings results on Thursday, November 1st. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.03. On average, equities analysts predict that Kiniksa Pharmaceuticals will post -2.63 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hillhouse Capital Management Ltd. purchased a new stake in shares of Kiniksa Pharmaceuticals in the second quarter valued at approximately $99,529,000. Baker BROS. Advisors LP purchased a new stake in shares of Kiniksa Pharmaceuticals in the second quarter valued at approximately $52,050,000. Boxer Capital LLC purchased a new stake in shares of Kiniksa Pharmaceuticals in the second quarter valued at approximately $20,346,000. FMR LLC purchased a new stake in shares of Kiniksa Pharmaceuticals in the second quarter valued at approximately $14,565,000. Finally, VHCP Management II LLC purchased a new stake in shares of Kiniksa Pharmaceuticals in the second quarter valued at approximately $11,091,000. Hedge funds and other institutional investors own 34.91% of the company’s stock.

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, a debilitating 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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