Jefferies analyst Maury Raycroft downgraded Kezar Life Sciences (KZR) to Hold from Buy with a price target of $7, down from $18. The company announced it could not align with the FDA on a registrational path for zetomipzomib in autoimmune hepatitis, leading to a formal process to explore strategic alternatives, the analyst tells investors in a research note. The firm lowered the probability of sucess of zetomipzomib to 10% from 25% and downgraded the shares.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KZR:
- Closing Bell Movers: CSX gains over 2% on earnings beat; OZK slips on miss
- Kezar Life Sciences Faces FDA Challenges in Drug Program
- Kezar Life Sciences trading resumes
- Kezar says interim study required by FDA would delay future zetomipzomib trials
- Kezar Life Sciences to explore strategic alternatives