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

Kezar Life Sciences (NASDAQ:KZR) had its target price lowered by Wells Fargo & Company from $11.00 to $9.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

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

Kezar Life Sciences Stock Performance

Shares of NASDAQ KZR traded down $0.05 during trading on Thursday, hitting $6.47. The company had a trading volume of 3,712 shares, compared to its average volume of 72,421. The stock has a 50 day simple moving average of $7.46 and a 200 day simple moving average of $6.74. The company has a debt-to-equity ratio of 0.05, a quick ratio of 7.65 and a current ratio of 7.65. Kezar Life Sciences has a 12 month low of $5.20 and a 12 month high of $11.35. The firm has a market capitalization of $47.21 million, a P/E ratio of -0.49 and a beta of 0.25.

Kezar Life Sciences (NASDAQ:KZR) last released its quarterly 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. As a group, analysts anticipate that Kezar Life Sciences will post -5.17 earnings per share for the current year.

Hedge Funds Weigh In On Kezar Life Sciences

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Kezar Life Sciences by 15.0% in the third quarter. Geode Capital Management LLC now owns 626,912 shares of the company’s stock worth $485,000 after acquiring an additional 81,678 shares during the period. XTX Topco Ltd increased its position 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 worth $40,000 after purchasing an additional 37,504 shares in the last quarter. Ikarian Capital LLC increased its position in shares of 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 in the last quarter. Stonepine Capital Management LLC increased its position in shares of 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Kezar Life Sciences during the second quarter worth about $63,000. 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.