In a report released yesterday, Naz Rahman from Maxim Group reiterated a Buy rating on Kazia Therapeutics, with a price target of $20.00.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Naz Rahman has given his Buy rating due to a combination of factors that highlight Kazia Therapeutics’ promising developments in oncology. The company’s lead asset, paxalisib, is being developed for both glioblastoma multiforme (GBM) and triple-negative breast cancer (TNBC), with encouraging data emerging from ongoing trials. The potential for paxalisib to provide a significant clinical benefit in GBM, despite missing a primary endpoint, is underscored by its demonstrated overall survival advantage compared to the standard of care.
Furthermore, the initial positive data from the Phase 1b trial of paxalisib in TNBC, particularly in combination with other therapies like Keytruda and Lynparza, suggests the drug’s potential to resensitize tumors and reduce tumor burden. This, combined with the strategic partnership with QIMR Berghofer Medical Research Institute, positions Kazia well for future advancements. The upcoming data presentation at the San Antonio Breast Cancer Symposium could further catalyze the stock, reinforcing the Buy recommendation.
Rahman covers the Healthcare sector, focusing on stocks such as Kazia Therapeutics, Silexion Therapeutics, and Vivani Medical. According to TipRanks, Rahman has an average return of -11.5% and a 32.15% success rate on recommended stocks.