Kiniksa Pharmaceuticals (NASDAQ:KNSA) Shares Up 13%

Kiniksa Pharmaceuticals Ltd (NASDAQ:KNSA) shares shot up 13% on Monday . The stock traded as high as $6.09 and last traded at $5.92, 570,100 shares traded hands during mid-day trading. An increase of 372% from the average session volume of 120,843 shares. The stock had previously closed at $5.24.

Several brokerages recently weighed in on KNSA. Wedbush reissued a “buy” rating on shares of Kiniksa Pharmaceuticals in a report on Wednesday, August 14th. ValuEngine raised Kiniksa Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research lowered Kiniksa Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, JMP Securities decreased their price objective on Kiniksa Pharmaceuticals to $35.00 and set a “market outperform” rating for the company in a report on Wednesday, August 14th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $26.50.

The firm has a fifty day moving average of $7.94 and a two-hundred day moving average of $12.53. The company has a market cap of $290.18 million, a PE ratio of -1.70 and a beta of -1.35.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.03. Analysts forecast that Kiniksa Pharmaceuticals Ltd will post -3.47 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in Kiniksa Pharmaceuticals by 33.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,832 shares of the company’s stock valued at $52,000 after buying an additional 952 shares in the last quarter. M&T Bank Corp purchased a new position in Kiniksa Pharmaceuticals during the 2nd quarter valued at about $141,000. Strs Ohio grew its holdings in Kiniksa Pharmaceuticals by 175.5% during the 2nd quarter. Strs Ohio now owns 13,500 shares of the company’s stock valued at $182,000 after buying an additional 8,600 shares in the last quarter. Swiss National Bank purchased a new position in Kiniksa Pharmaceuticals during the 2nd quarter valued at about $264,000. Finally, Parametric Portfolio Associates LLC grew its holdings in Kiniksa Pharmaceuticals by 17.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 31,595 shares of the company’s stock valued at $428,000 after buying an additional 4,787 shares in the last quarter. 30.22% of the stock is owned by institutional investors and hedge funds.

Kiniksa Pharmaceuticals Company Profile (NASDAQ:KNSA)

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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