Wells Fargo & Company Lowers Kezar Life Sciences (NASDAQ:KZR) Price Target to $11.00

Kezar Life Sciences (NASDAQ:KZR) had its target price decreased by stock analysts at Wells Fargo & Company from $20.00 to $11.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 47.45% from the company’s previous close.

A number of other brokerages have also recently weighed in on KZR. HC Wainwright restated a “neutral” rating on shares of Kezar Life Sciences in a research report on Monday, October 14th. William Blair reissued a “market perform” rating on shares of Kezar Life Sciences in a research note on Wednesday.

Kezar Life Sciences Price Performance

Kezar Life Sciences stock opened at $7.46 on Thursday. Kezar Life Sciences has a 12 month low of $5.20 and a 12 month high of $11.35. The company has a debt-to-equity ratio of 0.05, a current ratio of 7.65 and a quick ratio of 9.58. The business has a 50 day simple moving average of $7.20 and a 200-day simple moving average of $6.84. The stock has a market capitalization of $54.46 million, a PE ratio of -0.57 and a beta of 0.22.

Kezar Life Sciences (NASDAQ:KZR) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($2.80) EPS for the quarter, topping the consensus estimate of ($3.20) by $0.40. Equities analysts predict that Kezar Life Sciences will post -11.95 earnings per share for the current year.

Institutional Trading of Kezar Life Sciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Stonepine Capital Management LLC acquired a new position in Kezar Life Sciences during the second quarter valued at $630,000. BNP Paribas Financial Markets raised its position in Kezar Life Sciences by 35.4% during the first quarter. BNP Paribas Financial Markets now owns 273,430 shares of the company’s stock valued at $247,000 after buying an additional 71,543 shares during the period. Vanguard Group Inc. raised its position in Kezar Life Sciences by 1.0% during the first quarter. Vanguard Group Inc. now owns 3,094,224 shares of the company’s stock valued at $2,790,000 after buying an additional 30,740 shares during the period. Acadian Asset Management LLC raised its position in Kezar Life Sciences by 42.5% during the first quarter. Acadian Asset Management LLC now owns 1,790,838 shares of the company’s stock valued at $1,613,000 after buying an additional 534,203 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Kezar Life Sciences during the second quarter valued at $63,000. Institutional investors own 67.90% of the company’s stock.

About Kezar Life Sciences

Kezar Life Sciences, Inc, a clinical-stage biotechnology company, engages in the discovery and development of novel small molecule therapeutics to treat unmet needs in immune-mediated diseases and cancer in the United States. The company's lead product candidate is zetomipzomib (KZR-616), a selective immunoproteasome inhibitor that is in Phase 2b clinical trials for various indications, including lupus nephritis, dermatomyositis, and polymyositis; Phase 1b clinical trials in systemic lupus erythematosus; and completed Phase 2a clinical trials in lupus nephritis.