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

Kezar Life Sciences (NASDAQ:KZR) had its target price decreased by Wells Fargo & Company from $20.00 to $11.00 in a report released on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities research analysts have also recently commented on the company. William Blair reaffirmed a “market perform” rating on shares of Kezar Life Sciences in a research report on Wednesday. HC Wainwright restated a “neutral” rating on shares of Kezar Life Sciences in a research note on Monday, October 14th.

Kezar Life Sciences Trading Down 0.8 %

Shares of KZR opened at $7.46 on Thursday. The company has a quick ratio of 9.58, a current ratio of 7.65 and a debt-to-equity ratio of 0.05. Kezar Life Sciences has a 1 year low of $5.20 and a 1 year high of $11.35. The stock has a 50 day simple moving average of $7.20 and a two-hundred day simple moving average of $6.83.

Kezar Life Sciences (NASDAQ:KZR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($2.78) earnings per share for the quarter, beating the consensus estimate of ($3.03) by $0.25. On average, equities analysts anticipate that Kezar Life Sciences will post -6.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Kezar Life Sciences

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of Kezar Life Sciences by 15.0% in the third quarter. Geode Capital Management LLC now owns 626,912 shares of the company’s stock worth $485,000 after buying an additional 81,678 shares in the last quarter. XTX Topco Ltd increased its holdings in Kezar Life Sciences by 256.1% in the 3rd quarter. XTX Topco Ltd now owns 52,148 shares of the company’s stock valued at $40,000 after acquiring an additional 37,504 shares during the last quarter. Ikarian Capital LLC lifted its stake in Kezar Life Sciences by 23.0% in the 3rd quarter. Ikarian Capital LLC now owns 1,068,992 shares of the company’s stock worth $827,000 after purchasing an additional 200,000 shares in the last quarter. Stonepine Capital Management LLC grew its position in shares of Kezar Life Sciences by 42.0% during the third quarter. Stonepine Capital Management LLC now owns 1,491,305 shares of the company’s stock valued at $1,153,000 after purchasing an additional 440,853 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Kezar Life Sciences in the second quarter worth about $63,000. Institutional investors own 67.90% of the company’s stock.

Kezar Life Sciences Company Profile

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.