Clinical biotechnology company Kezar Life Sciences (NASDAQ:KZR) has won the U.S. Food and Drug Administration’s (FDA) clearance for its investigational new drug application for its autoimmune hepatitis (AIH) treatment zetomipzomib. AIH is a chronic disease in which the body’s immune system attacks the liver, causing inflammation and liver damage. The company believes that zetomipzomib, a selective immunoproteasome inhibitor, has broad therapeutic potential across many autoimmune diseases.
Kezar Life Science stock was up 2.1% in Monday’s extended trading session in reaction to the news. Shares have declined 47.4% year-to-date.
Kezar Life is focused on developing treatments for immune-mediated and oncologic disorders. The company is evaluating the efficacy of Zetomipzomib in a phase 2a clinical trial involving AIH patients who are “insufficiently responding to standard of care or have relapsed.”
Is Kezar Life Sciences Stock a Buy?
On TipRanks, Kezar Life Sciences stock has a Moderate Buy consensus rating based on one bullish review. The average KZR stock price target of $21 implies nearly 139% upside potential from current levels.
As per TipRanks’ Hedge Fund Trading Activity tool, the confidence signal for KZR stock is Very Positive. Hedge funds increased their holdings in KZR stock by 3.2 million shares in the last quarter.
