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Exploiting hyperspectral imagery without prior information is a challenge. Under this circumstance, unsupervised target detection becomes an anomaly detection problem. We propose an effective algorithm for target detection and discrimination based on the normalized fourth central moment named kurtosis, which can measure the flatness of a distribution. Small targets in hyperspectral imagery contribute to the tail of a distribution, thus making it heavier. The Gaussian distribution is completely determined by the first two order statistics and has zero kurtosis. Consequently, kurtosis measures the deviation of a distribution from the background and is suitable for anomaly/target detection. When imposing appropriate inequality constraints on the kurtosis to be maximized, the resulting constrained kurtosis maximization (CKM) algorithm will be able to quickly detect small targets with several projections. Compared to the widely used unconstrained kurtosis maximization algorithm, i.e., fast independent component analysis, the CKM algorithm may detect small targets with fewer projections and yield a slightly higher detection rate.