Analyst Rajan Sharma of Goldman Sachs maintained a Buy rating on Kiniksa Pharmaceuticals (KNSA – Research Report), with a price target of $32.00.
Rajan Sharma has given his Buy rating due to a combination of factors surrounding Kiniksa Pharmaceuticals’ recent performance and strategic decisions. The company’s commercial success with Arcalyst, particularly in the recurrent pericarditis market, has been notable, with revenue figures aligning with expectations and showing growth in patient penetration. This commercial progress is complemented by the company’s strategic refocus on its core cardiovascular pipeline, particularly with the promising development of KPL-387, a monoclonal antibody targeting IL-1R1 for recurrent pericarditis.
Furthermore, the decision to discontinue the abiprubart program in Sjögren’s disease is seen as a positive move, allowing the company to concentrate resources on more promising areas. The potential to reduce collaboration costs with Regeneron as KPL-387 gains prominence is another favorable factor. Overall, Sharma views the company’s financial results as stable, with the pipeline refocus and commercial advancements providing a solid foundation for future growth, justifying the Buy rating.
According to TipRanks, Sharma is an analyst with an average return of -2.0% and a 42.37% success rate. Sharma covers the Healthcare sector, focusing on stocks such as AstraZeneca, Argenx Se, and Kiniksa Pharmaceuticals.
In another report released yesterday, Wells Fargo also reiterated a Buy rating on the stock with a $30.00 price target.