JP Morgan analyst Anupam Rama issued a note on Thursday maintaining a positive outlook on Kiniksa Pharmaceuticals International (NASDAQ:KNSA), citing Arcalyst’s strong commercial performance and the company’s focused pipeline.
JP Morgan maintains the Overweight rating with a price target of $40.
Rama values Kiniksa shares in the low-$30s on Arcalyst alone and estimates a range in the high-$30s to low-$40s when including probability-adjusted KPL-387. The analyst believes the strategic focus on recurrent pericarditis (RP) provides clear opportunities for growth.
“As a result, we think KNSA shares are attractive from a valuation perspective, driven by both the commercial prospects of Arcalyst as well as the undervalued pipeline,” the analyst adds.
In February, Kiniksa Pharmaceuticals released a development update that said …
