Needham & Company LLC Initiates Coverage on Novogen (NASDAQ:KZIA)

Stock analysts at Needham & Company LLC assumed coverage on shares of Novogen (NASDAQ:KZIA) in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $27.00 price target on the stock. Needham & Company LLC‘s target price points to a potential upside of 209.63% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Leerink Partners began coverage on Novogen in a research note on Tuesday, October 20th. They issued an “outperform” rating and a $30.00 price target for the company. Guggenheim assumed coverage on Novogen in a report on Wednesday, October 21st. They set a “buy” rating and a $35.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Novogen in a report on Thursday, October 15th. BTIG Research reissued a “buy” rating and set a $40.00 target price on shares of Novogen in a research note on Thursday, September 10th. Finally, Canaccord Genuity Group assumed coverage on shares of Novogen in a research note on Thursday, August 13th. They set a “buy” rating and a $29.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Novogen has an average rating of “Moderate Buy” and an average target price of $29.50.

Novogen Stock Performance

KZIA opened at $8.72 on Friday. Novogen has a 12 month low of $4.86 and a 12 month high of $17.40. The stock’s 50 day moving average price is $10.33 and its 200 day moving average price is $10.47.

About Novogen

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.