Wells Fargo lowered the firm’s price target on Kezar Life Sciences (KZR) to $5 from $7 and keeps an Equal Weight rating on the shares. The firm notes management reported it was unable to align with the FDA on a Phase 3 for zetomipzomib in autoimmune hepatitis, effectively killing the program. Wells thinks there could be upside if they return cash to shareholders or in a reverse merger scenario and why shares are trading up +45% post market.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KZR:
- Kezar downgraded to Market Perform from Outperform at William Blair
- Kezar Life Sciences Faces Uncertainty with Hold Rating Amid FDA Setback and Strategic Alternatives Exploration
- Kezar Life Sciences downgraded to Hold from Buy at Jefferies
- Closing Bell Movers: CSX gains over 2% on earnings beat; OZK slips on miss
- Kezar Life Sciences Faces FDA Challenges in Drug Program