Kazia Therapeutics (KZIA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Naz Rahman from Maxim Group reiterated a Buy rating on the stock and has a $15.00 price target.
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Naz Rahman has given his Buy rating due to a combination of factors that highlight the potential of Kazia Therapeutics’ lead asset, paxalisib. The recent publication of preclinical data in a reputable journal has demonstrated paxalisib’s mechanism of action, which supports its use in combination therapies for treating triple-negative breast cancer (TNBC). This data has shown that paxalisib’s dual inhibition of PI3K and mTOR pathways can significantly reduce cancer cell proliferation and enhance anti-tumor immune responses, making it a promising candidate for combination with immunotherapies.
Furthermore, the initiation of a Phase 1b trial, where the first patient has already been dosed, marks a significant step forward in evaluating paxalisib’s efficacy in combination with immunotherapies for TNBC. This development, coupled with the potential to de-risk paxalisib and act as an inflection point for Kazia’s shares, underpins Rahman’s positive outlook. The promising preclinical results and the strategic partnership with QIMR Berghofer Medical Research Institute further reinforce the rationale for the Buy rating, as these factors collectively suggest a strong potential for future success in the oncology market.