Novan Inc (NOVN) Earns Outperform Rating from Analysts at Credit Suisse Group AG
Equities researchers at Credit Suisse Group AG assumed coverage on shares of Novan Inc (NASDAQ:NOVN) in a research report issued on Monday. The brokerage set an “outperform” rating and a $18.97 price target on the stock.
Several other analysts also recently commented on the stock. JMP Securities started coverage on shares of Novan in a research report on Monday. They issued an “outperform” rating for the company. Piper Jaffray Cos. started coverage on shares of Novan in a research report on Monday. They issued an “overweight” rating for the company. Finally, Wedbush started coverage on shares of Novan in a research report on Monday. They issued an “outperform” rating and a $27.00 price target for the company.
Novan (NASDAQ:NOVN) opened at 18.97 on Monday. The stock’s market capitalization is $46.42 million. Novan has a 1-year low of $13.77 and a 1-year high of $23.79. The stock has a 50 day moving average of $19.79 and a 200 day moving average of $19.79.
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In other news, major shareholder Life Sciences Holdings L. Malin acquired 800,000 shares of the company’s stock in a transaction on Monday, September 26th. The shares were bought at an average cost of $11.00 per share, with a total value of $8,800,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
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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