HC Wainwright Trims Kezar Life Sciences (NASDAQ:KZR) Target Price to $7.00

Kezar Life Sciences (NASDAQ:KZR) had its price target cut by HC Wainwright from $20.00 to $7.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Kezar Life Sciences Stock Performance

NASDAQ KZR opened at $0.66 on Monday. The company’s 50 day moving average is $0.66 and its 200-day moving average is $0.80. The firm has a market cap of $48.13 million, a P/E ratio of -0.47 and a beta of 0.28. Kezar Life Sciences has a 12-month low of $0.54 and a 12-month high of $2.32. The company has a quick ratio of 11.49, a current ratio of 11.48 and a debt-to-equity ratio of 0.05.

Kezar Life Sciences (NASDAQ:KZR) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. Sell-side analysts predict that Kezar Life Sciences will post -1.24 earnings per share for the current year.

Hedge Funds Weigh In On Kezar Life Sciences

Several hedge funds have recently bought and sold shares of KZR. Fidelis Capital Partners LLC purchased a new position in Kezar Life Sciences during the first quarter valued at approximately $25,000. SG Americas Securities LLC grew its stake in Kezar Life Sciences by 33.8% in the 4th quarter. SG Americas Securities LLC now owns 43,950 shares of the company’s stock worth $42,000 after buying an additional 11,109 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in Kezar Life Sciences in the 4th quarter worth approximately $80,000. Marquette Asset Management LLC purchased a new position in Kezar Life Sciences in the 1st quarter worth approximately $114,000. Finally, BNP Paribas Financial Markets grew its stake in Kezar Life Sciences by 35.4% in the 1st quarter. BNP Paribas Financial Markets now owns 273,430 shares of the company’s stock worth $247,000 after buying an additional 71,543 shares in the last quarter. Hedge funds and other 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.