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

Kezar Life Sciences (NASDAQ:KZR) had its target price reduced by stock analysts at Wells Fargo & Company from $11.00 to $9.00 in a research note issued 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 41.07% from the company’s previous close.

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

Kezar Life Sciences Stock Down 2.1 %

Shares of NASDAQ:KZR opened at $6.38 on Thursday. Kezar Life Sciences has a 52-week low of $5.20 and a 52-week high of $11.35. The stock has a market cap of $46.55 million, a P/E ratio of -0.48 and a beta of 0.25. The business has a fifty day moving average of $7.46 and a two-hundred day moving average of $6.74. The company has a quick ratio of 7.65, a current ratio of 7.65 and a debt-to-equity ratio of 0.05.

Kezar Life Sciences (NASDAQ:KZR) last posted its 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, research analysts expect that Kezar Life Sciences will post -5.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of KZR. Mackenzie Financial Corp purchased a new stake in shares of Kezar Life Sciences in the 2nd quarter valued at about $35,000. XTX Topco Ltd increased its position in Kezar Life Sciences by 256.1% during the third quarter. XTX Topco Ltd now owns 52,148 shares of the company’s stock worth $40,000 after buying an additional 37,504 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Kezar Life Sciences in the second quarter valued at approximately $63,000. Geode Capital Management LLC boosted 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 valued at $485,000 after acquiring an additional 81,678 shares during the period. Finally, Acuitas Investments LLC grew its position in shares of Kezar Life Sciences by 42.8% during the second quarter. Acuitas Investments LLC now owns 986,785 shares of the company’s stock worth $592,000 after acquiring an additional 295,956 shares during the last quarter. Institutional investors and hedge funds 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.