Piper Jaffray Cos. Initiates Coverage on Novan Inc (NOVN)
Piper Jaffray Cos. initiated coverage on shares of Novan Inc (NASDAQ:NOVN) in a research report issued on Monday, The Fly reports. The firm set an “overweight” rating on the stock.
Shares of Novan (NASDAQ:NOVN) opened at 18.97 on Monday. 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 price of $19.79 and a 200 day moving average price of $19.79. The company’s market capitalization is $46.42 million.
In other Novan news, major shareholder Life Sciences Holdings L. Malin bought 800,000 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were 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 filing with the SEC, which is available through this hyperlink.
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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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