Novogen (NASDAQ:KZIA) Trading Down 0.8% – Here’s What Happened

Novogen Limited (NASDAQ:KZIA)’s stock price was down 0.8% during mid-day trading on Wednesday . The company traded as low as $7.46 and last traded at $7.60. Approximately 18,605 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 460,244 shares. The stock had previously closed at $7.66.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wall Street Zen raised Novogen from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Novogen in a research note on Wednesday, October 8th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Novogen Stock Performance

The firm has a 50 day moving average price of $7.42 and a 200-day moving average price of $7.04.

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.