Novogen (NASDAQ:KZIA) Now Covered by Analysts at Needham & Company LLC

Key Points

• Needham & Company initiated coverage of Novogen (NASDAQ: KZIA) with a “buy” rating and a $27 price target, implying 209.63% upside from the previous close.
• Analyst sentiment is mostly positive: eight analysts rate the stock Buy and one rates it Sell, producing a consensus “Moderate Buy” rating and an average target price of $29.50.
• KZIA opened at $8.72, below its 50-day and 200-day moving averages of $10.33 and $10.47; the stock’s 52-week range is $4.86 to $17.40.

Stock analysts at Needham & Company LLC started coverage on shares of Novogen (NASDAQ:KZIA - Get Free Report) in a report released on Friday, MarketBeat Ratings reports. The firm set a "buy" rating and a $27.00 price target on the stock. Needham & Company LLC's price target points to a potential upside of 209.63% from the company's previous close.

A number of other brokerages have also commented on KZIA. BTIG Research reiterated a "buy" rating and issued a $40.00 price objective on shares of Novogen in a report on Thursday, September 10th. Leerink Partners started coverage on Novogen in a report on Tuesday, October 20th. They issued an "outperform" rating and a $30.00 price objective for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Novogen in a report on Thursday, October 15th. Guggenheim started coverage on Novogen in a research report on Wednesday, October 21st. They issued a "buy" rating and a $35.00 target price for the company. Finally, Canaccord Genuity Group started coverage on Novogen in a research report on Thursday, August 13th. They set a "buy" rating and a $29.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.50.

Novogen Price Performance

NASDAQ KZIA opened at $8.72 on Friday. The company's fifty day simple moving average is $10.33 and its 200-day simple moving average is $10.47. Novogen has a 52 week low of $4.86 and a 52 week high of $17.40.

Novogen Company Profile

Novogen Limited was an Australian biotechnology company that developed novel therapies for cancer. The company focused on small-molecule drug candidates designed to target biological pathways involved in tumor growth and survival, with an emphasis on cancers that have limited treatment options.

In 2016, Novogen changed its name to Kazia Therapeutics Limited and continued its oncology research under the Kazia name. Its principal development program became paxalisib, an investigational PI3K/mTOR inhibitor being studied for brain cancers, including glioblastoma and brain metastases.

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