Wells Fargo & Company Issues Pessimistic Forecast for Kezar Life Sciences (NASDAQ:KZR) Stock Price

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

KZR has been the topic of a number of other research reports. HC Wainwright reiterated a “neutral” rating on shares of Kezar Life Sciences in a report on Monday, October 14th. William Blair restated a “market perform” rating on shares of Kezar Life Sciences in a research note on Wednesday, November 13th.

Kezar Life Sciences Trading Down 0.8 %

KZR opened at $7.46 on Thursday. Kezar Life Sciences has a one year low of $5.20 and a one year high of $11.35. The company has a market cap of $54.46 million, a P/E ratio of -0.57 and a beta of 0.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.58 and a current ratio of 7.65. The business’s 50-day simple moving average is $7.20 and its 200-day simple moving average is $6.82.

Kezar Life Sciences (NASDAQ:KZR) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($2.78) EPS for the quarter, beating analysts’ consensus estimates of ($3.03) by $0.25. As a group, equities research analysts expect that Kezar Life Sciences will post -6.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Kezar Life Sciences by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 3,094,224 shares of the company’s stock worth $2,790,000 after buying an additional 30,740 shares during the last quarter. Acadian Asset Management LLC lifted its position in Kezar Life Sciences by 3.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,855,194 shares of the company’s stock worth $1,112,000 after acquiring an additional 64,356 shares during the period. Affinity Asset Advisors LLC acquired a new stake in Kezar Life Sciences during the 1st quarter worth approximately $1,588,000. Stonepine Capital Management LLC lifted its position in Kezar Life Sciences by 42.0% during the 3rd quarter. Stonepine Capital Management LLC now owns 1,491,305 shares of the company’s stock worth $1,153,000 after acquiring an additional 440,853 shares during the period. Finally, Ikarian Capital LLC lifted its position in Kezar Life Sciences by 23.0% during the 3rd quarter. Ikarian Capital LLC now owns 1,068,992 shares of the company’s stock worth $827,000 after acquiring an additional 200,000 shares during the period. Hedge funds and other 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.