Kezar Life Sciences (NASDAQ:KZR – Get Rating)‘s stock had its “buy” rating reissued by stock analysts at Wells Fargo & Company in a note issued to investors on Friday, TipRanks reports. They presently have a $19.00 target price on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 39.71% from the company’s current price.
KZR has been the topic of several other research reports. HC Wainwright lifted their price objective on Kezar Life Sciences from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, March 18th. Zacks Investment Research cut Kezar Life Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, March 23rd.
Shares of KZR traded down $0.34 during trading hours on Friday, hitting $13.60. The company had a trading volume of 351,057 shares, compared to its average volume of 612,940. The firm has a market cap of $771.30 million, a P/E ratio of -13.20 and a beta of 0.27. The stock’s 50 day moving average price is $15.20 and its 200 day moving average price is $13.25. The company has a quick ratio of 25.77, a current ratio of 25.77 and a debt-to-equity ratio of 0.05. Kezar Life Sciences has a 52-week low of $4.61 and a 52-week high of $18.55.
In related news, Director Franklin M. Berger purchased 60,000 shares of the company’s stock in a transaction dated Friday, March 18th. The shares were purchased at an average cost of $16.74 per share, with a total value of $1,004,400.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Franklin M. Berger purchased 20,000 shares of the company’s stock in a transaction dated Monday, March 21st. The stock was bought at an average cost of $14.77 per share, for a total transaction of $295,400.00. The disclosure for this purchase can be found here. Insiders own 7.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in KZR. Point72 Asset Management L.P. bought a new position in Kezar Life Sciences in the 4th quarter valued at approximately $35,204,000. Adage Capital Partners GP L.L.C. bought a new position in Kezar Life Sciences in the 4th quarter worth $34,388,000. Morgan Stanley raised its holdings in Kezar Life Sciences by 12,201.9% in the 2nd quarter. Morgan Stanley now owns 1,580,546 shares of the company’s stock worth $8,583,000 after purchasing an additional 1,567,698 shares during the period. State Street Corp raised its holdings in Kezar Life Sciences by 121.3% in the 4th quarter. State Street Corp now owns 1,339,966 shares of the company’s stock worth $22,404,000 after purchasing an additional 734,562 shares during the period. Finally, Invesco Ltd. raised its holdings in Kezar Life Sciences by 4,967.6% in the 4th quarter. Invesco Ltd. now owns 645,962 shares of the company’s stock worth $10,800,000 after purchasing an additional 633,215 shares during the period. 63.83% of the stock is currently owned by institutional investors and hedge funds.
About Kezar Life Sciences (Get Rating)
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 KZR-616, a selective immunoproteasome inhibitor that is in Phase 2 clinical trials for various indications, including lupus nephritis, dermatomyositis, and polymyositis; and Phase 1b clinical trials in systemic lupus erythematosus and lupus nephritis.
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