Novogen (NASDAQ:KZIA) Stock Falls 1.3% – Time to Sell?

Novogen Limited (NASDAQ:KZIA) shares were down 1.3% on Monday. The stock traded as low as $8.72 and last traded at $8.81. Approximately 66,815 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 263,089 shares. The stock had previously closed at $8.93.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on KZIA shares. BTIG Research reissued a “buy” rating and issued a $40.00 target price on shares of Novogen in a report on Thursday, September 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Novogen in a research note on Friday, July 17th. Finally, Canaccord Genuity Group started coverage on shares of Novogen in a research report on Thursday, August 13th. They issued a “buy” rating and a $29.00 price objective for the company. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.80.

Novogen Trading Down 1.3%

The company has a 50-day moving average price of $11.73 and a 200-day moving average price of $11.98.

Novogen Company Profile

Novogen Limited was an Australian biotechnology company focused on developing therapies for cancer and other serious diseases. The company’s research centered on small-molecule drug candidates designed to target biological pathways involved in tumor growth and survival.

Novogen’s oncology programs included investigational treatments such as Cantrixil, a therapy intended to target cancer stem cells, and Trilexium, an anticancer compound based on a DNA-damaging mechanism. The company also developed brain-penetrant compounds for the treatment of central nervous system cancers.

In 2016, Novogen changed its name to Kazia Therapeutics Limited and adopted the Nasdaq symbol KZIA.