Kezar Life Sciences price target lowered to $7 from $9 at Wells Fargo

Wells Fargo analyst Derek Archila lowered the firm’s price target on Kezar Life Sciences (KZR) to $7 from $9 and keeps an Equal Weight rating on the shares. The firm thinks zetomipzomib demonstrated interesting signs of activity in autoimmune hepatitis, though some of the baseline imbalances worry Wells as well as the lack of a clear reg path for the indication as a whole. The firm remains on the sidelines.