Kezar Life Sciences (NASDAQ:KZR) Announces Earnings Results, Beats Estimates By $0.02 EPS

Kezar Life Sciences (NASDAQ:KZR – Get Rating) released its earnings results on Thursday. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.02, MarketWatch Earnings reports.

Shares of NASDAQ KZR traded up $0.23 during midday trading on Friday, reaching $5.75. The stock had a trading volume of 1,114,948 shares, compared to its average volume of 1,202,364. Kezar Life Sciences has a twelve month low of $4.61 and a twelve month high of $18.55. The company has a quick ratio of 25.77, a current ratio of 25.77 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average price is $13.66 and its 200 day moving average price is $13.29.

In other news, Director Franklin M. Berger bought 60,000 shares of Kezar Life Sciences stock in a transaction dated Friday, March 18th. The stock was bought at an average cost of $16.74 per share, for a total transaction of $1,004,400.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Franklin M. Berger bought 20,000 shares of Kezar Life Sciences stock in a transaction dated Monday, March 21st. The stock was purchased at an average price of $14.77 per share, with a total value of $295,400.00. The disclosure for this purchase can be found here. 7.70% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of KZR. Northern Trust Corp boosted its stake in Kezar Life Sciences by 5.0% during the 1st quarter. Northern Trust Corp now owns 437,433 shares of the company’s stock valued at $7,271,000 after purchasing an additional 20,861 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Kezar Life Sciences by 13.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 101,117 shares of the company’s stock worth $1,681,000 after buying an additional 11,714 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Kezar Life Sciences by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 2,228,084 shares of the company’s stock worth $37,031,000 after buying an additional 336,669 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Kezar Life Sciences by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 277,928 shares of the company’s stock worth $4,619,000 after purchasing an additional 2,130 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Kezar Life Sciences by 7.8% in the 1st quarter. BlackRock Inc. now owns 2,897,074 shares of the company’s stock worth $48,150,000 after purchasing an additional 210,050 shares during the period. Institutional investors own 71.03% of the company’s stock.

Several brokerages recently issued reports on KZR. Zacks Investment Research lowered shares of Kezar Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, March 23rd. Wells Fargo & Company cut their target price on shares of Kezar Life Sciences from $19.00 to $14.00 in a research report on Wednesday, May 4th. Finally, HC Wainwright lifted their target price on shares of Kezar Life Sciences from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, March 18th.

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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