Kezar Life Sciences (NASDAQ:KZR) Given New $11.00 Price Target at Wells Fargo & Company

Kezar Life Sciences (NASDAQ:KZR - Get Free Report) had its target price lowered by equities researchers at Wells Fargo & Company from $20.00 to $11.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 46.28% from the company's current price.

Several other analysts also recently weighed in on 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 research note on Monday, October 14th.

Kezar Life Sciences Stock Down 0.3 %

Shares of KZR traded down $0.02 during mid-day trading on Thursday, hitting $7.52. 14,808 shares of the company traded hands, compared to its average volume of 73,911. The business has a 50 day moving average of $7.13 and a 200 day moving average of $6.84. The company has a market capitalization of $54.87 million, a PE ratio of -0.57 and a beta of 0.22. Kezar Life Sciences has a 1-year low of $5.20 and a 1-year high of $11.35. The company has a quick ratio of 9.58, a current ratio of 9.58 and a debt-to-equity ratio of 0.05.

Kezar Life Sciences (NASDAQ:KZR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($2.80) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.20) by $0.40. Equities research analysts anticipate that Kezar Life Sciences will post -11.95 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp bought a new stake in shares of Kezar Life Sciences during the second quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Kezar Life Sciences during the 2nd quarter worth $63,000. BNP Paribas Financial Markets raised its holdings 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. Acuitas Investments LLC lifted its stake in shares of Kezar Life Sciences by 42.8% in the second quarter. Acuitas Investments LLC now owns 986,785 shares of the company's stock worth $592,000 after buying an additional 295,956 shares during the last quarter. Finally, Stonepine Capital Management LLC acquired a new stake in shares of Kezar Life Sciences in the second quarter valued at about $630,000. 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.