Wells Fargo & Company Has Lowered Expectations for Kezar Life Sciences (NASDAQ:KZR) Stock Price

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

Other equities analysts also recently issued research reports about the stock. William Blair reiterated a “market perform” rating on shares of Kezar Life Sciences in a report on Wednesday. HC Wainwright reiterated a “neutral” rating on shares of Kezar Life Sciences in a report on Monday, October 14th.

Kezar Life Sciences Stock Down 0.8 %

NASDAQ:KZR opened at $7.46 on Thursday. Kezar Life Sciences has a 1-year low of $5.20 and a 1-year high of $11.35. The company has a 50-day moving average of $7.20 and a 200 day moving average of $6.84. The firm has a market cap of $54.46 million, a PE ratio of -0.57 and a beta of 0.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 7.65 and a quick ratio of 9.58.

Kezar Life Sciences (NASDAQ:KZR) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($2.80) EPS for the quarter, beating the consensus estimate of ($3.20) by $0.40. As a group, research analysts anticipate that Kezar Life Sciences will post -11.95 EPS for the current fiscal year.

Institutional Trading of Kezar Life Sciences

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Kezar Life Sciences by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 3,094,224 shares of the company’s stock valued at $2,790,000 after acquiring an additional 30,740 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Kezar Life Sciences by 3.6% during the second quarter. Acadian Asset Management LLC now owns 1,855,194 shares of the company’s stock worth $1,112,000 after purchasing an additional 64,356 shares during the last quarter. Affinity Asset Advisors LLC purchased a new stake in Kezar Life Sciences during the first quarter worth approximately $1,588,000. Stonepine Capital Management LLC lifted its stake in 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 worth $1,153,000 after purchasing an additional 440,853 shares during the last quarter. Finally, Ikarian Capital LLC lifted its stake in Kezar Life Sciences by 23.0% during the third 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 during 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.