Novan Inc (NOVN) Earns Outperform Rating from Analysts at Wedbush
Wedbush assumed coverage on shares of Novan Inc (NASDAQ:NOVN) in a research note issued to investors on Monday. The firm set an “outperform” rating and a $27.00 price target on the stock. Wedbush’s target price indicates a potential upside of 42.33% from the stock’s current price.
Separately, Piper Jaffray Cos. initiated coverage on Novan in a research note on Monday. They issued an “overweight” rating for the company.
Shares of Novan (NASDAQ:NOVN) opened at 18.97 on Monday. The firm’s market cap is $46.42 million. The company has a 50-day moving average of $19.79 and a 200-day moving average of $19.79. Novan has a 1-year low of $13.77 and a 1-year high of $23.79.
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In other news, major shareholder Life Sciences Holdings L. Malin acquired 800,000 shares of Novan stock in a transaction on Monday, September 26th. The stock was bought at an average price of $11.00 per share, for a total transaction of $8,800,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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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