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.

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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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