Maxim Group Begins Coverage on Kazia Therapeutics (NASDAQ:KZIA)

Equities researchers at Maxim Group started coverage on shares of Kazia Therapeutics (NASDAQ:KZIA) in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $3.00 price target on the stock. Maxim Group’s target price indicates a potential upside of 114.29% from the stock’s current price.

Kazia Therapeutics Price Performance

Shares of NASDAQ:KZIA opened at $1.40 on Thursday. Kazia Therapeutics has a 12 month low of $1.31 and a 12 month high of $15.80. The company’s 50-day moving average price is $2.56 and its two-hundred day moving average price is $3.74.

Institutional Trading of Kazia Therapeutics

A hedge fund recently bought a new stake in Kazia Therapeutics stock. MAI Capital Management bought a new stake in Kazia Therapeutics Limited (NASDAQ:KZIA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,363,894 shares of the company’s stock, valued at approximately $586,000. MAI Capital Management owned 51.66% of Kazia Therapeutics as of its most recent filing with the Securities and Exchange Commission. 30.89% of the stock is currently owned by institutional investors and hedge funds.

About Kazia Therapeutics

Kazia Therapeutics Limited operates as an oncology-focused biotechnology company. The company’s lead development candidate is Paxalisib, a small molecule, brain-penetrant inhibitor of the PI3K/AKT/mTOR pathway, which is developed as a potential therapy for glioblastoma. It also develops EVT801, a small-molecule selective inhibitor of vascular endothelial growth factor receptor 3.