Leerink initiates coverage of Kazia Therapeutics with $30 price target
Leerink Partners began coverage of Kazia Therapeutics, assigning an Outperform rating and a $30 price target, which suggests roughly 282% upside from the recent close. The firm highlighted strong trial results for paxalisib in triple‑negative breast cancer and glioblastoma, and noted upcoming studies in hormone‑receptor‑positive breast cancer. Kazia also announced a public offering of 2.58 million ADS, each backed by 500 ordinary shares, with accompanying Series A and Series B warrants priced at $17.825 and $19.375 per ADS respectively. BTIG raised its own target to $40, maintaining a Buy rating.
Why it matters
The new target implies a large potential gain for investors, and the public offering could provide additional capital for clinical development. Analyst upgrades often trigger buying pressure, as reflected in a 4.1% pre‑market rise.
Key facts
- 1Leerink set a price target of $30.00, implying about 282% upside from the $7.85 close. investing.com
- 2The coverage carries an Outperform rating. investing.com
- 3Kazia plans to sell 2,580,000 ADS, each representing 500 ordinary shares. investing.com
- 4Series A warrants allow purchase of up to 2,243,478 ADS at $17.825 per ADS. investing.com
- 5Series B warrants allow purchase of up to 2,064,000 ADS at $19.375 per ADS. investing.com
- 6BTIG raised its price target to $40, keeping a Buy rating. investing.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.