Kiniksa Pharmaceuticals (KNSA) has received a new Buy rating, initiated by TD Cowen analyst, Tyler Van Buren.
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Tyler Van Buren has given his Buy rating due to a combination of factors that highlight Kiniksa Pharmaceuticals’ promising position in the market. The company is currently cash flow positive and has significant potential to expand the reach of its product, Arcalyst, which is a key driver of its financial performance. Arcalyst, an IL-1 antagonist, has demonstrated impressive efficacy in treating recurrent pericarditis, as evidenced by the Phase III RHAPSODY trial results showing a remarkable 93% freedom from recurrence. This strong clinical performance positions Arcalyst as a potential second-line standard of care.
Furthermore, since its approval in March 2021, Arcalyst has generated over $1 billion in sales, with consistent growth over 16 consecutive quarters. The projected revenue for 2025 suggests substantial year-over-year growth, indicating a robust market presence. Additionally, the development of KPL-387, a next-generation asset with the potential for more convenient dosing, further enhances Kiniksa’s long-term prospects. The anticipated Phase II data for KPL-387 in 2026 is expected to support its market potential, making Kiniksa an attractive investment opportunity.
In another report released on September 25, Wells Fargo also maintained a Buy rating on the stock with a $45.00 price target.
Based on the recent corporate insider activity of 120 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KNSA in relation to earlier this year.