Canaccord Genuity Group Begins Coverage on Novogen (NASDAQ:KZIA)

Investment analysts at Canaccord Genuity Group assumed coverage on shares of Novogen (NASDAQ:KZIA) in a research note issued on Thursday. The firm set a “buy” rating and a $29.00 price target on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 126.74% from the stock’s current price.

A number of other brokerages have also weighed in on KZIA. BTIG Research reissued a “buy” rating and issued a $34.00 target price on shares of Novogen in a research report on Wednesday, July 15th. Lake Street Capital assumed coverage on shares of Novogen in a research note on Thursday, June 11th. They issued a “buy” rating and a $32.00 price target for the company. Laidlaw started coverage on shares of Novogen in a report on Wednesday, April 15th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Novogen in a report on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

Novogen Stock Performance

Shares of NASDAQ KZIA opened at $12.79 on Thursday. The company has a 50 day moving average of $13.18 and a 200 day moving average of $10.61. Novogen has a twelve month low of $4.86 and a twelve month high of $17.40.

About Novogen

Novogen (NASDAQ:KZIA) is a clinical-stage biotechnology company focused on the discovery and development of novel small-molecule therapeutics for the treatment of cancer. The company’s pipeline includes GDC-0084, a brain-penetrant phosphoinositide 3-kinase (PI3K) inhibitor in Phase II development for glioblastoma, as well as Cantrixil, an orally bioavailable small molecule designed to target treatment-resistant ovarian cancer stem cells. Novogen’s research efforts leverage structure-based drug design to optimize selectivity and pharmacokinetic profiles, seeking to address high-unmet medical needs in oncology.

Founded in Australia and now headquartered in New York City, Novogen maintains research facilities in Perth and collaborates with academic institutions and contract research organizations worldwide.