Novogen (NASDAQ:KZIA) Trading 3.7% Higher – Here’s Why

Novogen Limited (NASDAQ:KZIA)’s share price shot up 3.7% during trading on Monday . The company traded as high as $12.23 and last traded at $11.40. 183,127 shares were traded during mid-day trading, a decline of 7% from the average session volume of 197,319 shares. The stock had previously closed at $10.99.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KZIA. Laidlaw began coverage on Novogen in a report on Wednesday, April 15th. They issued a “buy” rating and a $25.00 target price for the company. Wall Street Zen cut Novogen from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Novogen in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Novogen Trading Up 3.7%

The stock has a 50 day moving average of $11.33 and a 200-day moving average of $9.18.

Novogen (NASDAQ:KZIA) last issued its quarterly earnings results on Saturday, February 14th. The company reported ($1.34) earnings per share (EPS) for the quarter. The company had revenue of $4.89 million during the quarter. On average, analysts anticipate that Novogen Limited will post -0.01 earnings per share for the current fiscal year.

Novogen Company Profile

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.