Canaccord Genuity Group Initiates Coverage on Novogen (NASDAQ:KZIA)

Canaccord Genuity Group began coverage on shares of Novogen (NASDAQ:KZIA) in a research note issued on Thursday. The brokerage set a “buy” rating and a $29.00 price target on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 126.74% from the stock’s current price.

Other analysts also recently issued reports about the stock. BTIG Research restated a “buy” rating and set a $34.00 price objective on shares of Novogen in a research report on Wednesday, July 15th. Lake Street Capital began coverage on Novogen in a report on Thursday, June 11th. They set a “buy” rating and a $32.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Novogen in a research report on Friday, July 17th. Finally, Laidlaw initiated coverage on shares of Novogen in a report on Wednesday, April 15th. They issued a “buy” rating and a $25.00 target price on the stock. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $26.33.

Novogen Stock Down 7.9%

Shares of NASDAQ:KZIA opened at $12.79 on Thursday. Novogen has a 1-year low of $4.86 and a 1-year high of $17.40. The firm’s 50 day simple moving average is $13.18 and its two-hundred day simple moving average is $10.61.

About Novogen

Novogen (NASDAQ:KZIA) is a clinical-stage biotechnology company focused on the discovery and development of novel small-molecule therapeutics for the treatment of cancer. The company’s pipeline includes GDC-0084, a brain-penetrant phosphoinositide 3-kinase (PI3K) inhibitor in Phase II development for glioblastoma, as well as Cantrixil, an orally bioavailable small molecule designed to target treatment-resistant ovarian cancer stem cells. Novogen’s research efforts leverage structure-based drug design to optimize selectivity and pharmacokinetic profiles, seeking to address high-unmet medical needs in oncology.

Founded in Australia and now headquartered in New York City, Novogen maintains research facilities in Perth and collaborates with academic institutions and contract research organizations worldwide.