Novan Inc (NOVN) Earns Outperform Rating from Analysts at Wedbush
Stock analysts at Wedbush assumed coverage on shares of Novan Inc (NASDAQ:NOVN) in a report issued on Monday, The Fly reports. The firm set an “outperform” rating on the stock.
Separately, Piper Jaffray Cos. initiated coverage on shares of Novan in a research note on Monday. They set an “overweight” rating for the company.
Novan (NASDAQ:NOVN) opened at 18.97 on Monday. The stock’s 50 day moving average is $19.79 and its 200-day moving average is $19.79. Novan has a 12-month low of $13.77 and a 12-month high of $23.79. The company’s market cap is $46.42 million.
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In other news, major shareholder Life Sciences Holdings L. Malin acquired 800,000 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was purchased at an average price of $11.00 per share, for a total transaction of $8,800,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
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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