Kezar Life Sciences (NASDAQ:KZR) Price Target Cut to $9.00 by Analysts at Wells Fargo & Company

Kezar Life Sciences (NASDAQ:KZR) had its price objective lowered by stock analysts at Wells Fargo & Company from $11.00 to $9.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 44.00% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. HC Wainwright reaffirmed a “neutral” rating on shares of Kezar Life Sciences in a report on Monday, December 2nd. William Blair reissued a “market perform” rating on shares of Kezar Life Sciences in a report on Wednesday, November 13th.

Kezar Life Sciences Stock Performance

KZR stock traded down $0.04 on Thursday, hitting $6.25. The company’s stock had a trading volume of 1,436 shares, compared to its average volume of 72,382. Kezar Life Sciences has a 1 year low of $5.20 and a 1 year high of $11.35. The company has a current ratio of 7.65, a quick ratio of 7.65 and a debt-to-equity ratio of 0.05. The stock has a market cap of $45.60 million, a price-to-earnings ratio of -0.47 and a beta of 0.25. The firm has a 50 day moving average of $7.50 and a two-hundred day moving average of $6.74.

Kezar Life Sciences (NASDAQ:KZR) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($2.78) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.03) by $0.25. Equities analysts predict that Kezar Life Sciences will post -5.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Kezar Life Sciences

Large investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp purchased a new position in shares of Kezar Life Sciences in the 2nd quarter worth $35,000. XTX Topco Ltd raised its stake in shares of Kezar Life Sciences by 256.1% during the third quarter. XTX Topco Ltd now owns 52,148 shares of the company’s stock valued at $40,000 after purchasing an additional 37,504 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Kezar Life Sciences during the 2nd quarter worth $63,000. Geode Capital Management LLC lifted its holdings in Kezar Life Sciences by 15.0% in the 3rd 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. Finally, Acuitas Investments LLC lifted its holdings in Kezar Life Sciences by 42.8% in the 2nd quarter. Acuitas Investments LLC now owns 986,785 shares of the company’s stock worth $592,000 after buying an additional 295,956 shares in the last quarter. 67.90% of the stock is owned by institutional investors and hedge funds.

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.