Zacks Investment Research Downgrades Kezar Life Sciences (NASDAQ:KZR) to Hold

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Kezar Life Sciences (NASDAQ:KZR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Kezar Life Sciences, Inc. is a bio-technology company. It discovers and develops molecule therapeutics and medicines such as protein homeostasis for autoimmune disorders. The company’s product pipeline consists of KZR-616 which is in clinical stage. Kezar Life Sciences, Inc. is headquartered in South San Francisco, California. “

Several other research analysts have also recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Kezar Life Sciences in a report on Monday, October 21st. Cowen restated a “buy” rating on shares of Kezar Life Sciences in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Kezar Life Sciences presently has a consensus rating of “Buy” and a consensus target price of $9.13.

KZR stock traded up $0.15 during midday trading on Tuesday, hitting $3.30. The company’s stock had a trading volume of 649 shares, compared to its average volume of 156,105. The company has a debt-to-equity ratio of 0.07, a current ratio of 16.67 and a quick ratio of 16.67. Kezar Life Sciences has a twelve month low of $2.36 and a twelve month high of $24.16. The company’s fifty day moving average price is $3.23 and its 200 day moving average price is $3.99. The stock has a market capitalization of $60.10 million, a P/E ratio of -1.46 and a beta of 1.08.

Kezar Life Sciences (NASDAQ:KZR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.03. Equities analysts expect that Kezar Life Sciences will post -1.89 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its stake in Kezar Life Sciences by 105.7% in the second quarter. Victory Capital Management Inc. now owns 461,453 shares of the company’s stock valued at $3,558,000 after buying an additional 237,110 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Kezar Life Sciences by 32.9% in the second quarter. BlackRock Inc. now owns 844,391 shares of the company’s stock worth $6,512,000 after acquiring an additional 208,816 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Kezar Life Sciences by 923.4% in the second quarter. Morgan Stanley now owns 74,982 shares of the company’s stock worth $578,000 after acquiring an additional 67,655 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Kezar Life Sciences by 1,151.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 38,275 shares of the company’s stock valued at $275,000 after purchasing an additional 35,216 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Kezar Life Sciences by 302.5% in the 2nd quarter. Wells Fargo & Company MN now owns 30,878 shares of the company’s stock valued at $238,000 after purchasing an additional 23,207 shares in the last quarter. 49.24% of the stock is currently owned by institutional investors and hedge funds.

Kezar Life Sciences Company Profile

Kezar Life Sciences, Inc, a clinical-stage biotechnology company, engages in the discovery and development of small molecule therapeutics to treat unmet needs in autoimmunity and cancer in the United States. Its lead product candidate, KZR-616, a selective immunoproteasome inhibitor that is in Phase 1b/2 clinical trials in lupus and lupus nephritis.

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