Novogen Limited (NASDAQ:KZIA) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Novogen Limited (NASDAQ:KZIA) have received an average recommendation of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $29.50.

KZIA has been the subject of a number of research reports. Leerink Partners began coverage on shares of Novogen in a research note on Tuesday, October 20th. They set an “outperform” rating and a $30.00 target price for the company. BTIG Research reissued a “buy” rating and set a $40.00 price objective on shares of Novogen in a research report on Thursday, September 10th. Needham & Company LLC began coverage on Novogen in a research note on Friday, October 30th. They issued a “buy” rating and a $27.00 target price on the stock. Guggenheim assumed coverage on Novogen in a research report on Wednesday, October 21st. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Novogen in a report on Thursday, October 15th.

Novogen Price Performance

Shares of KZIA traded down $0.33 during trading hours on Friday, reaching $6.62. The company’s stock had a trading volume of 352,750 shares, compared to its average volume of 175,023. Novogen has a 1-year low of $4.86 and a 1-year high of $17.40. The company has a 50 day moving average of $8.98 and a two-hundred day moving average of $10.50.

Novogen Company Profile

Novogen Limited, now known as Kazia Therapeutics, is an Australian biotechnology company focused on developing therapies for cancer. The company has historically advanced drug candidates aimed at treating tumors with limited treatment options, rather than marketing approved medicines. Its pipeline has included paxalisib, an investigational drug designed to inhibit the PI3K and mTOR pathways and studied for brain cancers, including glioblastoma. Kazia has also developed other experimental oncology candidates, including cantrixil for ovarian cancer.