Novogen Limited (NASDAQ:KZIA) Short Interest Update

Novogen Limited (NASDAQ:KZIA) was the target of a large growth in short interest in April. As of April 30th, there was short interest totaling 408,115 shares, a growth of 119.5% from the April 15th total of 185,921 shares. Currently, 24.9% of the shares of the stock are sold short. Based on an average daily volume of 343,000 shares, the days-to-cover ratio is currently 1.2 days.

Novogen Stock Down 4.8%

Shares of NASDAQ KZIA opened at $13.16 on Friday. Novogen has a 1 year low of $3.24 and a 1 year high of $17.40. The firm’s 50-day moving average is $9.87 and its 200-day moving average is $8.60.

Novogen (NASDAQ:KZIA) last released its quarterly earnings data on Saturday, February 14th. The company reported ($1.34) earnings per share for the quarter. The company had revenue of $4.89 million for the quarter. As a group, analysts predict that Novogen will post -0.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on KZIA. Wall Street Zen lowered shares of Novogen from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Laidlaw began coverage on shares of Novogen in a report on Wednesday, April 15th. They set a “buy” rating and a $25.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Novogen in a report on Wednesday, January 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Novogen in a report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

About Novogen

Novogen (NASDAQ:KZIA) is a clinical-stage biotechnology company focused on the discovery and development of novel small-molecule therapeutics for the treatment of cancer. The company’s pipeline includes GDC-0084, a brain-penetrant phosphoinositide 3-kinase (PI3K) inhibitor in Phase II development for glioblastoma, as well as Cantrixil, an orally bioavailable small molecule designed to target treatment-resistant ovarian cancer stem cells. Novogen’s research efforts leverage structure-based drug design to optimize selectivity and pharmacokinetic profiles, seeking to address high-unmet medical needs in oncology.

Founded in Australia and now headquartered in New York City, Novogen maintains research facilities in Perth and collaborates with academic institutions and contract research organizations worldwide.