Kiniksa Pharmaceuticals Q2 product revenue rises on ARCALYST sales
KNSA•What drove the quarter
ARCALYST prescriber growth - Co said growth in new and repeat prescribers of ARCALYST in recurrent pericarditis led to a meaningful increase in patients on therapy.
Operating expenses - Co said higher operating expenses were mainly due to increased costs from ARCALYST sales, collaboration expenses, and investment in clinical and preclinical development.
Key details and analyst coverage
| Metric | Actual |
|---|---|
| Q2 Product Revenue | $243.60 mln |
| Q2 EPS | $0.30 |
| Q2 Net Income | $25.43 mln |
| Q2 Operating Expenses | $216.41 mln |
| Q2 Pretax Profit | $31.15 mln |
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell".
The average consensus recommendation for the pharmaceuticals peer group is "buy".
Wall Street's median 12-month price target for Kiniksa Pharmaceuticals International, PLC is $72.00, about 13.3% above its July 27 closing price of $63.54.
The stock recently traded at 42 times the next 12-month earnings vs. a P/E of 40 three months ago.
Q2 product revenue and profit rise
Biopharmaceutical firm's Q2 product revenue rose 55% yr/yr, driven by ARCALYST sales growth.
Q2 net income increased to $25.4 mln from $17.8 mln a year earlier.
