After Aurinia Pharmaceuticals (AUPH) announced an agreement to acquire Kezar Life Sciences (KZR) for $6.955 in cash per share plus one non-transferable contingent value right, Jefferies said the deal valuation “makes sense” given the stage of development and trials needed to bring zetomipzomib to market. The firm maintains a Hold rating and $7 price target on Kezar shares.
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