Goldman Sachs analyst Paul Choi reiterated a Buy rating on Kiniksa Pharmaceuticals (KNSA – Research Report) today and set a price target of $32.00.
Paul Choi’s Buy rating for Kiniksa Pharmaceuticals hinges on a combination of the company’s strong performance and forward-looking prospects. Choi’s optimism is particularly rooted in the robust 2024 guidance for Arcalyst, which exceeded the consensus and Goldman Sachs estimates, coupled with the firm’s sound execution and commercial momentum. Arcalyst’s sales surpassed previous guidance for the full year of 2023, and the forecast for 2024 promises a continuation of this positive trend.
Moreover, Kiniksa’s pipeline, including the drug candidate abiprubart, shows a promising though nuanced signal of efficacy, with further data expected to clarify its potential. Despite mixed results in the Phase 2 trials, the trends observed in the data are compelling, and forthcoming Cohort 4 data is anticipated to shed more light on the drug’s future. Choi also highlights Kiniksa’s strong capital position, with sufficient cash runway into at least 2027, underpinning the company’s financial stability. This financial footing, combined with the current market undervaluation, presents what Choi believes to be an attractive investment opportunity, thereby reinforcing the Buy rating.
According to TipRanks, Choi is a 5-star analyst with an average return of 11.5% and a 56.88% success rate. Choi covers the Healthcare sector, focusing on stocks such as Ascendis Pharma, Xenon, and Cytokinetics.
In another report released on January 2, Wedbush also maintained a Buy rating on the stock with a $25.00 price target.
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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.
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