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

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

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

Kezar Life Sciences Price Performance

KZR stock traded down $0.08 during mid-day trading on Thursday, reaching $7.44. The company had a trading volume of 30,841 shares, compared to its average volume of 73,707. 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 has a fifty-two week low of $5.20 and a fifty-two week high of $11.35. The firm has a fifty day simple moving average of $7.16 and a 200 day simple moving average of $6.85.

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

Institutional Investors Weigh In On Kezar Life Sciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp purchased a new stake in shares of Kezar Life Sciences in the second quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Kezar Life Sciences in the second quarter valued at about $63,000. BNP Paribas Financial Markets raised its stake in Kezar Life Sciences by 35.4% during the first quarter. BNP Paribas Financial Markets now owns 273,430 shares of the company’s stock valued at $247,000 after buying an additional 71,543 shares in the last quarter. Ikarian Capital LLC raised its position in shares of Kezar Life Sciences by 1.8% during the 1st quarter. Ikarian Capital LLC now owns 868,992 shares of the company’s stock worth $783,000 after purchasing an additional 15,601 shares during the period. Finally, Acuitas Investments LLC raised its position in shares of Kezar Life Sciences by 42.8% during the 2nd quarter. Acuitas Investments LLC now owns 986,785 shares of the company’s stock worth $592,000 after purchasing an additional 295,956 shares during the period. 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.