Novogen (NASDAQ:KZIA) Shares Up 1.9% – Time to Buy?

Novogen Limited (NASDAQ:KZIA) shares shot up 1.9% during mid-day trading on Monday . The stock traded as high as $7.61 and last traded at $7.47. 13,720 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 136,442 shares. The stock had previously closed at $7.33.

Analyst Ratings Changes

KZIA has been the subject of a number of analyst reports. HC Wainwright raised Novogen from a “buy” rating to a “strong-buy” rating and set a $13.00 price objective for the company in a research report on Thursday, July 10th. Wall Street Zen upgraded shares of Novogen from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Finally, Maxim Group reissued a “buy” rating and issued a $15.00 price objective on shares of Novogen in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, Novogen presently has a consensus rating of “Strong Buy” and a consensus target price of $14.00.

Novogen Stock Performance

The firm has a 50-day moving average price of $8.12 and a two-hundred day moving average price of $6.32.

About Novogen

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.