Why Analysts Favor Kiniksa Pharmaceuticals (KNSA)

Kiniksa Pharmaceuticals International (NASDAQ:KNSA) is one of the most promising mid-cap healthcare stocks under $50.

On December 12, Wells Fargo analyst Eva Fortea Verdejo indicated her bullish sentiment and assigned a Buy rating to Kiniksa Pharmaceuticals International (NASDAQ:KNSA). With a price target of $45, she anticipates the stock to soar by another 15.77% from the current levels.

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On December 17, management shared updates on the Phase 2 clinical study on KPL-387 monotherapy. The aim is to make a safe transition from existing therapies towards KPL-387 for patients with recurrent pericarditis. The study will be based on a preliminary 16-week period followed by a long-term extension phase. The follow up phase will span across 24 months, where patients would continue to use the drug as needed.

As per management, successful outcomes of the study could lead to an increase in pipeline value for Kiniksa Pharmaceuticals International (NASDAQ:KNSA). This would spark investor interest in the foreseeable future and would influence the share price movement.

As of December 19 closing, all 6 analysts covering the company assigned Buy ratings to Kiniksa Pharmaceuticals International (NASDAQ:KNSA). The consensus 1-year average price target of $52.83, offering a strong 22.3% upside potential for the stock from its current price level.

Kiniksa Pharmaceuticals International (NASDAQ:KNSA) is a biopharmaceutical company that is currently in the clinical stage. The company is involved in acquiring, developing, and commercializing therapeutic medicines that cure patients with chronic debilitating diseases. The company currently has many therapies in the clinical trial stage that focus on cardiovascular conditions.

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Disclosure: None. This article is originally published at Insider Monkey.