Analysts Expect Novan Inc (NOVN) to Announce ($0.47) Earnings Per Share

Novan Inc (NASDAQ:NOVN) has been assigned an average broker rating score of 0.00 () from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.

Analysts have set a 12-month consensus price objective of $8.50 for the company and are predicting that the company will post ($0.47) EPS for the current quarter, according to Zacks. Zacks has also given Novan an industry rank of 93 out of 265 based on the ratings given to related companies.

A number of equities research analysts have issued reports on NOVN shares. Wedbush reiterated an “outperform” rating and set a $33.00 price objective on shares of Novan in a research note on Tuesday, November 29th. Zacks Investment Research downgraded shares of Novan from a “hold” rating to a “sell” rating in a research note on Tuesday, December 20th.

Shares of Novan (NASDAQ:NOVN) opened at 6.03 on Monday. Novan has a 12 month low of $3.52 and a 12 month high of $30.90. The stock’s 50 day moving average is $5.76 and its 200 day moving average is $17.45. The firm’s market capitalization is $96.29 million.

Novan (NASDAQ:NOVN) last announced its quarterly earnings data on Monday, March 20th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.32. During the same quarter last year, the company earned ($0.82) EPS. Equities research analysts forecast that Novan will post ($3.14) earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Partner Investment Management L.P. bought a new stake in Novan during the third quarter worth $141,000. Spark Investment Management LLC bought a new stake in Novan during the third quarter worth $228,000. Geduld E E bought a new stake in Novan during the third quarter worth $252,000. Russell Investments Group Ltd. bought a new stake in Novan during the fourth quarter worth $551,000. Finally, Nicholas Investment Partners LP bought a new stake in Novan during the fourth quarter worth $1,041,000. Institutional investors own 12.75% of the company’s stock.

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Novan Company Profile

Novan, Inc is a late-stage pharmaceutical company. The Company is engaged in the development and commercialization of therapies using its nitric oxide platform. The Company develops product candidates using its Nitricil technology, which enables the Company to engineer tunable new chemical entities (NCEs).

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