Novan Inc (NOVN) Now Covered by Credit Suisse Group AG
Several other research firms also recently commented on NOVN. JMP Securities initiated coverage on shares of Novan in a research note on Monday. They set an “outperform” rating for the company. Piper Jaffray Cos. initiated coverage on shares of Novan in a research note on Monday. They set an “overweight” rating for the company. Finally, Wedbush initiated coverage on shares of Novan in a research note on Monday. They set an “outperform” rating and a $27.00 price objective for the company.
Novan (NASDAQ:NOVN) opened at 18.97 on Monday. The company’s market cap is $46.42 million. Novan has a one year low of $13.77 and a one year high of $23.79. The company has a 50-day moving average of $19.79 and a 200 day moving average of $19.79.
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In other Novan news, major shareholder Life Sciences Holdings L. Malin bought 800,000 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was bought at an average cost 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 available 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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