Analyst Eva Fortea Verdejo from Wells Fargo maintained a Buy rating on Kiniksa Pharmaceuticals (KNSA – Research Report) and keeping the price target at $35.00.
Eva Fortea Verdejo’s rating is based on the positive outlook for Kiniksa Pharmaceuticals, particularly due to the potential of Arcalyst. The drug is anticipated to become a billion-dollar opportunity in the U.S., with its growth drivers remaining strong. There is confidence in increasing market penetration and continued patient additions from both new and repeat prescribers.
Furthermore, the company’s enhanced guidance, attributed to unexpected salesforce expansion and execution success, supports a promising growth trajectory. With no significant fluctuations expected in key metrics, and with treatment duration slightly increasing, the company is well-positioned for continued growth. Additionally, the ongoing development of abiprubart in Sjogren’s syndrome, despite competitive challenges, reflects a de-risked mechanism and favorable program outlook. Despite a recent dip in share prices, Verdejo believes this was an anomaly and expects further growth and revenue guidance to drive upside over the next year.
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Kiniksa Pharmaceuticals (KNSA) Company Description:
Kiniksa Pharmaceuticals Ltd. is a biopharmaceutical company, which engages in discovering, acquiring, developing, and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical need. Its products include Rilonacept, Mavrilimumab, KPL-716, KPL-045, and KPL-404. The company was founded by Sanj K. Patel, Stephen Frank Mahoney, Krisha S. Mahoney, Thomas W. Beetham, Christopher Heberlig, Carsten Boess, Rasmus Holm-Jorgensen, Gregory Alex Grabowksi, Aaron Isadore Young, Eben P. Tessari, Jennifer Lynne Mason, and Mickenzie Elizabeth Gallagher in July 2015 and is headquartered in Hamilton, Bermuda.
