Kiniksa Pharmaceuticals Ltd Up 4.53% To $16.39 After Earnings Miss

Tuesday, October 31, 2023 - Kiniksa Pharmaceuticals Ltd (KNSA) reported downside earnings and upside revenues.

Analyst expectations for Kiniksa Pharmaceuticals Ltd earnings per share (EPS) were at a loss of $0.17 per share, with the company missing those estimates with a reported EPS loss of $0.20 per share, leading to a negative surprise of $0.03 per share (-18%). Kiniksa Pharmaceuticals Ltd's earnings were down 106% year-over-year as the firm reported an EPS of $3.18 in its year-ago quarter. The negative annual growth shows the Healthcare company isn't performing well amid current economic conditions.

Revenues were upbeat at $67 million. That represents a 32.37% decrease in revenues from the year-ago report and is 4.03% higher than consensus estimates set at $64.5 million.

The stock is up 4.53% to $16.39 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Kiniksa Pharmaceuticals Ltd has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 90, putting Kiniksa Pharmaceuticals Ltd in the top 25% of stocks. The firm set a 52-week high on July 26, 2023 at $20.65 and set a 52-week low on April 6, 2023 at $10.29.

Kiniksa Pharmaceuticals Ltd is a clinical-stage biopharmaceutical company focused on discovering, acquiring, developing, and commercializing therapeutic medicines for patients suffering from debilitating diseases. Its clinical-stage product candidates include Rilonacept, for the treatment of recurrent pericarditis, a debilitating inflammatory cardiovascular disease; Mavrilimumab, a monoclonal antibody for the treatment of giant cell arteritis; Vixarelimab; and KPL-404.