Novogen (NASDAQ:KZIA) Stock Price Down 4.2% – What’s Next?

Novogen Limited (NASDAQ:KZIA)’s stock price fell 4.2% during mid-day trading on Tuesday . The stock traded as low as $6.89 and last traded at $7.08. 26,492 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 187,528 shares. The stock had previously closed at $7.39.

Analysts Set New Price Targets

Several research firms have recently weighed in on KZIA. HC Wainwright raised shares of Novogen from a “buy” rating to a “strong-buy” rating and set a $13.00 price objective for the company in a report on Thursday, July 10th. Maxim Group raised their price objective on shares of Novogen from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Wall Street Zen raised shares of Novogen from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Novogen in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Novogen Stock Down 4.2%

The business’s 50 day simple moving average is $7.53 and its 200-day simple moving average is $6.58.

Novogen Company Profile

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.