| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 14 | 75.5x | 17.8x | Bottom tier | |
Growth | 97 | 58.9% | 7.1% | Top tier | |
Quality | 92 | 11.4% | 4.5% | Top tier | |
Safety | 92 | — | 2.6x | Top tier | |
Capital Return | 25 | 0.00% | 2.12% | Bottom tier | |
Momentum | 99 | 132.5% | 2.9% | Top tier | |
Sentiment | 43 | 6 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Kiniksa Pharmaceuticals International is a biopharmaceutical company focused on inhibiting the IL-1 alpha and IL-1 beta pathway, with its commercial business led by ARCALYST for the treatment of recurrent pericarditis. The company is working to expand this franchise through KPL-387, an investigational once-monthly therapy that entered the Phase 3 PASTORALE study, and through KPL-1161, which the company aims to develop with quarterly dosing.
In Q2 FY2026, ARCALYST revenue reached approximately $243.6 million, up 55% year over year and more than $29 million from the previous quarter, the largest absolute quarterly increase since the drug's launch more than five years ago. Operating income was $27.2 million and net income was $25.4 million, while ARCALYST collaboration profit rose 68% to $176.1 million, meaning it grew faster than sales despite higher research and development, marketing, and collaboration costs.
The business mix remained concentrated in ARCALYST, with the cash balance reaching $525.9 million and approximately $58 million in net cash generated during Q2 FY2026. By comparison, EDGAR filings for Q1 FY2026 show revenue of $214.3 million, gross profit of $193.5 million, net income of $22.6 million, and earnings per share of $0.27.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy,” with an average target of $86.4 and a wide range between $71 and $99. The average target exceeds the 52-week range high of $82.94, reflecting high expectations for continued ARCALYST growth and KPL-387 success, but the breadth of the target range highlights uncertainty associated with revenue concentration and Phase 3 risk.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
ARCALYST was the primary commercial driver, with revenue of $243.6 million in Q2 FY2026. This represented 55% year-over-year growth and an increase of more than $29 million from the previous quarter. The company attributed the growth to broader new and repeat prescribing, increased patient enrollment, and treatment persistence.
ARCALYST penetration among patients with multiple recurrences reached approximately 21% by the end of Q2 FY2026, up from approximately 18% at the end of FY2025. This group includes approximately 14,000 patients and accounted for nearly 80% of new prescriptions during the quarter. The first-recurrence group includes approximately 26,000 patients out of a total estimated market of approximately 40,000 patients and accounted for nearly 20% of ARCALYST prescriptions during the quarter.
The monthly 300-milligram dose of KPL-387 showed a rapid onset of response and sustained efficacy throughout the monthly dosing period. The median time to treatment response and pain improvement was four days for each, and the median time to C-reactive protein normalization was eight days. The 300-milligram dose every two weeks was also effective, but it did not provide additional benefit compared with the monthly dose.
PASTORALE is an event-driven, randomized, placebo-controlled withdrawal study, and it had begun enrolling patients and administering doses by July 28, 2026. It will include up to approximately 85 participants experiencing recurrent pericarditis despite conventional oral therapies, and responders in the run-in phase will receive KPL-387 at a monthly dose of 300 milligrams or placebo during the withdrawal phase. The primary endpoint measures the time to the first confirmed recurrence of pericarditis, and the company is targeting a potential launch during 2028–2029 if the program succeeds.
Kiniksa raised its FY2026 revenue guidance to a range of $980–995 million, from $930–945 million previously. The increase followed ARCALYST revenue of $243.6 million in Q2 FY2026. The company also ended the quarter with a cash balance of $525.9 million and approximately $58 million in net cash generation.
The first risk is that the commercial business depends heavily on ARCALYST, making results sensitive to prescribing trends and patient treatment persistence. KPL-387 also remains in Phase 3, and the announced Phase 2 data came from an interim analysis with limited detail, so the registrational endpoint has not yet been proven. In addition, research and development, manufacturing, marketing, and collaboration costs increased, while the analyst target range of $71 to $99 assumes widely varying outcomes for the commercial product and development pipeline.
