Kiniksa (KNSA) PT Raised to $44 at JMP Securities

JMP Securities analyst Liisa Bayko raised the price target on Kiniksa (NASDAQ: KNSA) to $44.00 (from $33.00) while maintaining a Market Outperform rating. Over the weekend at the EADV Congress in Paris, Kiniksa presented data from a single-dose Phase 1 study showing that KPL-716 met the primary safety endpoint and Bayko saw early signals of efficacy across multiple pruritus endpoints.

While this early data certainly looks promising, we are mindful that these are small numbers, and there are some notable differences in baseline characteristics. Placebo responses seem more or less comparable to what has been seen in previous studies and KPL-716 had a substantial delta on multiple measures, therefore JMP Securities looks forward to future studies to tease out a more robust treatment effect.

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