JMP Securities Initiates Coverage on Novan Inc (NOVN)
Stock analysts at JMP Securities assumed coverage on shares of Novan Inc (NASDAQ:NOVN) in a research note issued to investors on Monday, The Fly reports. The firm set an “outperform” rating on the stock.
Other equities analysts have also issued reports about the stock. Wedbush assumed coverage on shares of Novan in a research report on Monday. They issued an “outperform” rating and a $27.00 price objective on the stock. Piper Jaffray Cos. assumed coverage on shares of Novan in a research report on Monday. They issued an “overweight” rating on the stock.
Novan (NASDAQ:NOVN) opened at 18.97 on Monday. The firm’s 50-day moving average is $19.79 and its 200-day moving average is $19.79. The firm’s market capitalization is $46.42 million. Novan has a 52-week low of $13.77 and a 52-week high of $23.79.
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In other news, major shareholder Life Sciences Holdings L. Malin acquired 800,000 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were purchased at an average cost of $11.00 per share, for a total transaction of $8,800,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
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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