Maxim Group analyst Jason McCarthy reiterated a Buy rating on Kazia Therapeutics (KZIA – Research Report) yesterday and set a price target of $3.00.
Jason McCarthy has given his Buy rating due to a combination of factors influencing Kazia Therapeutics’ potential in the pharmaceutical market. One significant aspect is a recently awarded research grant from The Michael J. Fox Foundation for Parkinson’s Research, which will fund preclinical studies to explore paxalisib’s application as a treatment for Parkinson’s disease. Although Parkinson’s is not yet included in Kazia’s financial model, the potential expansion into this large market represents an upside for the company.
Additionally, Kazia’s strategic focus remains on advancing paxalisib for glioblastoma multiforme (GBM), where it has already demonstrated promising results in terms of overall survival benefits in previous studies. The limited treatment options and severe impact of GBM present a lucrative opportunity for Kazia. Thus, despite the early stage of Parkinson’s research, the dual prospects in GBM and future potential in Parkinson’s contribute to the Buy rating.
According to TipRanks, McCarthy is an analyst with an average return of -16.1% and a 27.47% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group, Alterity Therapeutics, and Mesoblast.
