Wedbush raised the firm's price target on Kiniksa to $59 from $58 and keeps an Outperform rating on the shares. The firm notes Q1 Arcalyst revenue of $214.3M beat its $201.0M estimate, and management hiked FY26 guidance to $930M-$945M from $900M-$920M. Within the pipeline, KPL-387 remains on track with Phase 2 dose-focusing data expected in the second half of 2026, followed by initiation of the Phase 3 pivotal portion by year-end 2026. Wedbush continues to view KPL-387 as a key catalyst for shares, with potential to reinforce Kiniksa's leadership in interleukin-1 blockade in recurrent pericarditis while materially improving the long-term economic profile of the franchise.
