Kezar Life Sciences’ (KZR) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Kezar Life Sciences (NASDAQ:KZR) in a report issued on Friday, Benzinga reports. The brokerage currently has a $20.00 target price on the stock.

Kezar Life Sciences Price Performance

Shares of NASDAQ KZR traded down $0.01 during mid-day trading on Friday, reaching $0.87. The company’s stock had a trading volume of 494,565 shares, compared to its average volume of 636,435. The stock has a 50-day moving average of $0.91 and a two-hundred day moving average of $0.95. The stock has a market capitalization of $63.26 million, a P/E ratio of -0.62 and a beta of 0.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 13.83 and a current ratio of 13.83. Kezar Life Sciences has a 1-year low of $0.67 and a 1-year high of $3.81.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in shares of Kezar Life Sciences by 264.2% in the first quarter. JPMorgan Chase & Co. now owns 63,788 shares of the company’s stock valued at $1,060,000 after purchasing an additional 46,275 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Kezar Life Sciences by 55.7% in the first quarter. MetLife Investment Management LLC now owns 20,139 shares of the company’s stock valued at $335,000 after purchasing an additional 7,203 shares during the period. Rhumbline Advisers boosted its stake in shares of Kezar Life Sciences by 15.0% in the first quarter. Rhumbline Advisers now owns 46,517 shares of the company’s stock valued at $773,000 after purchasing an additional 6,051 shares during the period. BlackRock Inc. lifted its stake in Kezar Life Sciences by 7.8% in the first quarter. BlackRock Inc. now owns 2,897,074 shares of the company’s stock worth $48,150,000 after acquiring an additional 210,050 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Kezar Life Sciences by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 277,928 shares of the company’s stock worth $4,619,000 after acquiring an additional 2,130 shares during the last quarter. Hedge funds and other institutional investors own 86.83% 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.