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Kiniksa Pharmaceuticals International, plc (NASDAQ:KNSA) Chief Accounting Officer Michael R. Megna recently executed a sale of company shares, according to a filing with the Securities and Exchange Commission. On March 12, Megna sold 9,051 Class A Ordinary Shares at a weighted average price of $22.45, totaling approximately $203,194. This transaction was conducted under a 10b5-1 plan, which was put in place on July 24, 2024. According to InvestingPro data, the company currently trades slightly below its Fair Value, with analysts setting price targets between $30-$40.
In addition to the sale, Megna also exercised options to acquire 9,051 shares at a price of $11.10 per share, amounting to $100,466. Following these transactions, Megna holds 26,528 shares directly. The company maintains strong financial health, with InvestingPro analysis showing a 56.6% revenue growth and robust balance sheet metrics, including a current ratio of 3.3.
These transactions were part of a series of trades executed through a broker-dealer, with the sales price ranging slightly from $22.45 to $22.465. The filing notes that Megna will provide detailed pricing information to the SEC upon request. InvestingPro subscribers can access additional insights, including 6 key ProTips and comprehensive financial analysis in the Pro Research Report.
In other recent news, Kiniksa Pharmaceuticals announced plans to initiate a Phase 2/3 clinical trial for its heart drug KPL-387, targeting recurrent pericarditis. The trial is expected to begin in mid-2025, following interactions with the U.S. Food and Drug Administration. Kiniksa aims to build on the success of its existing treatment, ARCALYST, which has generated over $800 million since its launch in 2021. Additionally, Kiniksa reported preliminary revenue of $416.4 million for fiscal year 2024, marking a 79% increase from the previous year and surpassing Goldman Sachs and Visible Alpha consensus estimates.
Goldman Sachs has maintained its Buy rating for Kiniksa, with a consistent price target of $32.00, highlighting the company’s robust commercial execution with ARCALYST. The firm also noted Kiniksa’s guidance for ARCALYST revenue in fiscal year 2025, projecting between $560 million and $580 million, which exceeds Goldman Sachs’s prediction. Despite these strong results, consensus estimates have slightly adjusted to reflect Kiniksa’s commercial performance. The company’s focus remains on its product pipeline, particularly the anticipated updates on the abiprubart program for Sjögren’s disease.
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