UPDATE: Goldman Sachs Assumes Kiniksa (KNSA), Upgrades to Buy on Attractive Risk/Reward Offering
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Goldman Sachs analyst Paul Choi assumes primary coverage on Kiniksa (NASDAQ: KNSA) with a Buy rating (from Neutral) and a price target of $18.00.
The analyst comments "We upgrade KNSA to Buy from Neutral as we think the current valuation offers an attractive risk/reward potential ahead of multiple clinical catalysts in 2020 that could drive a meaningful reappraisal of the stock. Our KOL checks suggest increasing receptivity towards using biologics to treat GCA, with mavrilimumab seen as potentially differentiated on both efficacy and safety relative to Actemra. While it represents a smaller opportunity, rilonacept (Arcalyst) for recurrent pericarditis is already partially de-risked, with clinical success shifting more of the asset’s economics into KNSA’s control."
Shares of Kiniksa closed at $9.97 yesterday.
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