Novan Inc (NOVN) Receives New Coverage from Analysts at JMP Securities
Analysts at JMP Securities started coverage on shares of Novan Inc (NASDAQ:NOVN) in a research report issued on Monday, The Fly reports. The firm set an “outperform” rating on the stock.
Other research analysts have also recently issued research reports about the stock. Piper Jaffray Cos. began coverage on shares of Novan in a report on Monday. They set an “overweight” rating for the company. Wedbush began coverage on shares of Novan in a report on Monday. They set an “outperform” rating and a $27.00 target price for the company.
Novan (NASDAQ:NOVN) traded up 8.0648% on Monday, reaching $20.4999. The company had a trading volume of 42,338 shares. The firm’s market capitalization is $50.16 million. Novan has a one year low of $13.77 and a one year high of $23.79. The company’s 50 day moving average is $19.79 and its 200-day moving average is $19.79.
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In other Novan news, major shareholder Life Sciences Holdings L. Malin bought 800,000 shares of Novan stock in a transaction that occurred on Monday, September 26th. The stock was purchased at an average price of $11.00 per share, with a total value of $8,800,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
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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