Novan Inc (NOVN) Given $26.00 Average Target Price by Analysts
Shares of Novan Inc (NASDAQ:NOVN) have received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Brokerages have set a 12 month consensus price objective of $26.00 for the company and are expecting that the company will post ($2.26) earnings per share for the current quarter, according to Zacks. Zacks has also given Novan an industry rank of 99 out of 265 based on the ratings given to related companies.
NOVN has been the topic of a number of research reports. JMP Securities initiated coverage on Novan in a research report on Monday. They set an “outperform” rating and a $31.00 price objective on the stock. Wedbush initiated coverage on Novan in a research report on Monday. They set an “outperform” rating and a $27.00 price objective on the stock. Piper Jaffray Cos. began coverage on Novan in a research report on Monday. They set an “overweight” rating and a $25.00 price objective on the stock. Finally, Credit Suisse Group AG began coverage on Novan in a research report on Monday. They issued an “outperform” rating and a $18.97 price target on the stock.
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In related news, major shareholder Life Sciences Holdings L. Malin purchased 800,000 shares of the stock in a transaction on Monday, September 26th. The shares were purchased at an average cost of $11.00 per share, for a total transaction of $8,800,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Novan (NASDAQ:NOVN) traded up 0.44% during midday trading on Wednesday, hitting $20.70. 10,063 shares of the company were exchanged. The company’s 50 day moving average price is $19.87 and its 200 day moving average price is $19.87. Novan has a one year low of $13.77 and a one year high of $23.79. The firm’s market cap is $50.65 million.
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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