Kiniksa price target raised to $30 from $25 at Evercore ISI

Evercore ISI analyst Liisa Bayko raised the firm’s price target on Kiniksa to $30 from $25 and keeps an Outperform rating on the shares. The firm cites two reasons it is “lovin’ KNSA,” namely that lead asset Arcalyst accelerating in recurrent pericarditis and that the company will be cash flow positive this year and beyond. The firm, which notes that it got some additional color on abiprubart on the earnings call, adds that it will “remain in wait and see mode before assigning more value,” noting that value for the asset currently represents $5 of its $30 price target on Kiniksa shares.