Fintel reports that on August 11, 2023, Wells Fargo downgraded their outlook for Kezar Life Sciences (NASDAQ:KZR) from Overweight to Equal-Weight.
Analyst Price Forecast Suggests 947.02% Upside
As of August 2, 2023, the average one-year price target for Kezar Life Sciences is 15.81. The forecasts range from a low of 13.13 to a high of $19.95. The average price target represents an increase of 947.02% from its latest reported closing price of 1.51.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Kezar Life Sciences is 0MM. The projected annual non-GAAP EPS is -1.12.
What is the Fund Sentiment?
There are 276 funds or institutions reporting positions in Kezar Life Sciences. This is a decrease of 18 owner(s) or 6.12% in the last quarter. Average portfolio weight of all funds dedicated to KZR is 0.05%, a decrease of 52.19%. Total shares owned by institutions decreased in the last three months by 0.22% to 64,422K shares. The put/call ratio of KZR is 0.76, indicating a bullish outlook.
What are Other Shareholders Doing?
Suvretta Capital Management holds 6,888K shares representing 9.51% ownership of the company. In it’s prior filing, the firm reported owning 3,504K shares, representing an increase of 49.12%. The firm decreased its portfolio allocation in KZR by 12.11% over the last quarter.
Avidity Partners Management holds 6,519K shares representing 9.00% ownership of the company. In it’s prior filing, the firm reported owning 6,782K shares, representing a decrease of 4.03%. The firm decreased its portfolio allocation in KZR by 34.52% over the last quarter.
Orbimed Advisors holds 5,463K shares representing 7.54% ownership of the company. In it’s prior filing, the firm reported owning 4,584K shares, representing an increase of 16.08%. The firm decreased its portfolio allocation in KZR by 45.63% over the last quarter.
Prosight Management holds 3,200K shares representing 4.42% ownership of the company. In it’s prior filing, the firm reported owning 1,754K shares, representing an increase of 45.17%. The firm decreased its portfolio allocation in KZR by 29.51% over the last quarter.
Millennium Management holds 2,537K shares representing 3.50% ownership of the company. In it’s prior filing, the firm reported owning 2,896K shares, representing a decrease of 14.17%. The firm decreased its portfolio allocation in KZR by 59.64% over the last quarter.
Kezar Life Sciences Background Information
(This description is provided by the company.)
Based in South San Francisco, Kezar Life Sciences is combining courage, conviction and cutting-edge science to develop breakthrough treatments for immune-mediated and oncologic disorders. The company is pioneering first-in-class, small-molecule therapies that harness master regulators of cellular function and inhibit multiple drivers of disease via a single target. KZR-616, a first-in-class selective immunoproteasome inhibitor, is being evaluated in severe and underserved autoimmune diseases. Additionally, KZR-261, the first clinical candidate for the treatment of cancer from the company’s protein secretion program targeting the Sec61 translocon, is undergoing IND-enabling activities.
This article originally appeared on Fintel
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