Bank of America just raised its EUR/USD forecast
Tessari Eben, the Chief Operating Officer of Kiniksa Pharmaceuticals International, plc (NASDAQ:KNSA), a biopharmaceutical company currently valued at $1.64 billion with a "GREAT" financial health score according to InvestingPro, recently executed a series of stock transactions, according to a Form 4 filing with the Securities and Exchange Commission. On March 10, Eben sold 12,409 Class A Ordinary Shares at prices ranging from $20.72 to $21.555, resulting in a total transaction value of approximately $261,333.
In addition to the sale, Eben also acquired 7,000 shares through the exercise of share options at a price of $3.80 per share, totaling $26,600. Following these transactions, Eben holds 76,566 shares directly. These transactions were conducted under a 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell shares under specific conditions.
In other recent news, Kiniksa Pharmaceuticals announced its plans to initiate a Phase 2/3 clinical trial for its heart drug KPL-387, targeting recurrent pericarditis. This trial is set to begin in mid-2025, with Phase 2 results expected in the latter half of 2026. KPL-387 is a monoclonal antibody that has shown potential for monthly dosing based on Phase 1 data. The company aims to build on the success of its existing treatment, ARCALYST, which has generated over $800 million since its 2021 launch. In addition, Kiniksa has discontinued the development of abiprubart for Sjögren’s Disease, while continuing to develop KPL-1161 with a quarterly dosing profile.
Goldman Sachs has reiterated its Buy rating on Kiniksa Pharmaceuticals, citing the company’s strong revenue performance. Kiniksa reported preliminary revenue of $416.4 million for FY24, a 79% increase over FY23, surpassing both Goldman Sachs’s and Visible Alpha’s consensus estimates. The firm also provided guidance for ARCALYST revenue in FY25, projecting between $560 million and $580 million, exceeding Goldman Sachs’s forecast. Analysts at Goldman Sachs commended Kiniksa for its commercial execution and maintained a 12-month price target of $32, expressing confidence in the company’s strategy and pipeline developments.
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