Maxim Group Begins Coverage on Kazia Therapeutics (NASDAQ:KZIA)

Equities researchers at Maxim Group started coverage on shares of Kazia Therapeutics (NASDAQ:KZIA) in a research note issued to investors on Thursday, MarketBeat reports. The firm set a “buy” rating and a $3.00 price target on the stock. Maxim Group’s price objective would indicate a potential upside of 138.10% from the company’s previous close.

Kazia Therapeutics Stock Down 16.0 %

Shares of KZIA opened at $1.26 on Thursday. Kazia Therapeutics has a 1-year low of $1.25 and a 1-year high of $15.80. The firm’s 50-day moving average price is $2.48 and its 200-day moving average price is $3.73.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Kazia Therapeutics stock. MAI Capital Management purchased a new position in Kazia Therapeutics Limited (NASDAQ:KZIA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,363,894 shares of the company’s stock, valued at approximately $586,000. MAI Capital Management owned about 51.66% of Kazia Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 30.89% of the company’s stock.

About Kazia Therapeutics

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.