Maxim Group analyst Naz Rahman reiterated a Buy rating on Kazia Therapeutics yesterday and set a price target of $15.00.
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Naz Rahman has given his Buy rating due to a combination of factors surrounding Kazia Therapeutics’ promising developments. The company has reported positive preclinical data for its lead asset, paxalisib, which showed significant potential in reducing circulating tumor cell clusters in stage IV HER2-positive breast cancer. Although paxalisib is not currently being tested in humans for this specific cancer type, its ongoing evaluation in triple-negative breast cancer (TNBC) patients suggests a promising read-through for its effectiveness in treating metastasis across various cancer types.
Furthermore, the ongoing Phase 1b trial for TNBC has already shown positive results in one patient, and the trial’s design aims to further explore the combination of paxalisib with immunotherapies. This trial, conducted in partnership with QIMR Berghofer Medical Research Institute, is expected to provide more insights as more patients are enrolled. The potential of paxalisib to disrupt aggressive cancer biomarkers and its promising results in preclinical and early clinical settings contribute to the Buy rating, indicating a strong long-term investment opportunity.
Rahman covers the Healthcare sector, focusing on stocks such as Vivani Medical, Talphera, and Silexion Therapeutics. According to TipRanks, Rahman has an average return of -16.6% and a 28.75% success rate on recommended stocks.