Kezar Life Sciences Inc (KZR)
NASDAQ:KZR
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Kezar Life Sciences
(NASDAQ:KZR)
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Rating:56Neutral
Price Target:
$7.50
▲(1.35% Upside)
Action:ReiteratedDate:04/04/26
The score is held down primarily by weak financial fundamentals (ongoing losses, negative free cash flow, and equity erosion). Offsetting this are constructive technical trend signals and a positive M&A-driven catalyst, while valuation remains constrained by negative earnings and no dividend.
Positive Factors
Low leverage and improving balance sheet
Kezar’s sharply reduced debt and low debt-to-equity (around 0.03) materially lower financial risk for a clinical-stage biotech. This structural balance-sheet strength preserves strategic optionality, reduces interest burdens, and lengthens runway flexibility versus highly levered peers.
Negative Factors
Persistent negative cash flow and cash burn
Consistent negative operating and free cash flow forces reliance on external financing, increasing dilution and execution risk. Although 2025 shows improvement, recurring cash burn is structural for a clinical-stage biopharma and limits ability to self-fund trials or scale operations without partners or capital raises.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and improving balance sheet
Kezar’s sharply reduced debt and low debt-to-equity (around 0.03) materially lower financial risk for a clinical-stage biotech. This structural balance-sheet strength preserves strategic optionality, reduces interest burdens, and lengthens runway flexibility versus highly levered peers.
Read all positive factors
Kezar Life Sciences (KZR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$54.55M
Dividend YieldN/A
Average Volume (3M)297.79K
Price to Earnings (P/E)―
Beta (1Y)1.01
Revenue GrowthN/A
EPS Growth35.80%
CountryUS
Employees55
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.99
Shares Outstanding7,371,527
10 Day Avg. Volume813,550
30 Day Avg. Volume297,789
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.66
Price to Sales (P/S)0.00
P/FCF Ratio-0.89
Enterprise Value/Market Cap-0.28
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit23.49
Enterprise Value/Ebitda0.32
Forecast
1Y Price Target
$7.20Price Target Upside-2.70% Downside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)-5.03
Revenue Forecast (FY)N/A
Kezar Life Sciences Business Overview & Revenue Model
Company Description
Kezar Life Sciences, Inc., a clinical-stage biotechnology company, engages in the discovery and development of novel small molecule therapeutics to treat unmet needs in immune-mediated diseases and cancer in the United States. The company's lead p...
How the Company Makes Money
Kezar Life Sciences does not primarily generate revenue from product sales because it is a clinical-stage biotechnology company without commercialized therapies. The company has historically funded operations mainly through financing activities su...
Kezar Life Sciences Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
46
Neutral
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 7.00M | 0.00 | 0.00 |
| Gross Profit | -897.00K | -1.04M | 7.00M | 0.00 | -1.51M |
| EBITDA | -51.37M | -81.10M | -99.25M | -66.03M | -52.96M |
| Net Income | -56.03M | -83.74M | -101.87M | -68.24M | -54.63M |
Balance Sheet | |||||
| Total Assets | 76.65M | 144.68M | 221.24M | 299.57M | 217.93M |
| Cash, Cash Equivalents and Short-Term Investments | 71.88M | 132.25M | 201.37M | 276.56M | 208.35M |
| Total Debt | 2.33M | 16.18M | 18.93M | 21.26M | 14.04M |
| Total Liabilities | 6.57M | 27.77M | 33.66M | 29.70M | 21.06M |
| Stockholders Equity | 70.07M | 116.92M | 187.57M | 269.87M | 196.88M |
Cash Flow | |||||
| Free Cash Flow | -51.78M | -74.24M | -83.45M | -60.42M | -42.75M |
| Operating Cash Flow | -51.78M | -74.21M | -81.64M | -58.85M | -42.44M |
| Investing Cash Flow | 92.46M | 80.43M | 76.05M | -91.39M | -28.44M |
| Financing Cash Flow | -10.59M | 103.00K | 638.00K | 127.86M | 112.58M |
Kezar Life Sciences Technical Analysis
Positive
7.40
Price Trends
6.61
Positive
6.43
Positive
5.43
Positive
Market Momentum
0.14
Negative
64.02
Neutral
90.25
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KZR, the sentiment is Positive. The current price of 7.4 is above the 20-day moving average (MA) of 6.87, above the 50-day MA of 6.61, and above the 200-day MA of 5.43, indicating a bullish trend. The MACD of 0.14 indicates Negative momentum. The RSI at 64.02 is Neutral, neither overbought nor oversold. The STOCH value of 90.25 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KZR.
Kezar Life Sciences Risk Analysis
Kezar Life Sciences disclosed 63 risk factors in its most recent earnings report. Kezar Life Sciences reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Kezar Life Sciences Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | $54.55M | -0.82 | -62.53% | ― | ― | 35.80% | |
56 Neutral | $83.78M | -2.64 | -291.42% | ― | ― | 61.23% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
43 Neutral | $26.71M | -2.94 | -108.76% | ― | -100.00% | 33.44% | |
42 Neutral | $5.06M | -0.56 | -68.21% | ― | ― | ― |
* Healthcare Sector Average
KZR
Kezar Life Sciences
7.40
3.05
70.11%
AKTX
Akari Therapeutics
4.47
-41.93
-90.37%
XCUR
Exicure
4.19
-8.61
-67.27%
PYPD
PolyPid
4.39
1.99
82.92%
Kezar Life Sciences Corporate Events
Business Operations and StrategyExecutive/Board Changes
Kezar Life Sciences Announces Major Executive Leadership Changes
Negative
Apr 3, 2026
On April 1, 2026, Kezar Life Sciences terminated its lease for 48,714 square feet of office space at 4000 Shoreline Court in San Francisco, two months before its original July 31, 2026 expiry. The company agreed to pay roughly $2 million to the la...
Business Operations and StrategyM&A Transactions
Kezar Life Sciences to Be Acquired by Aurinia
Positive
Mar 30, 2026
On March 30, 2026, Kezar Life Sciences agreed to be acquired by Aurinia Pharmaceuticals in a cash-and-CVR transaction structured as a tender offer and follow-on merger. Aurinia will pay $6.955 per Kezar share in cash plus a non-transferable contin...
Business Operations and StrategyM&A Transactions
Kezar Divests Sec61 Program to Refocus on Core Pipeline
Positive
Mar 12, 2026
On March 6, 2026, Kezar Life Sciences agreed to sell its Sec61-based discovery and development program, including preclinical candidate KZR-261, to Enodia Therapeutics in an asset deal under which Enodia assumed related liabilities but did not acq...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.