Novan (NOVN) Stock Rating Upgraded by ValuEngine

Novan (NASDAQ:NOVN) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Sunday.

Several other equities research analysts have also recently weighed in on NOVN. Wedbush reaffirmed a “neutral” rating and issued a $6.00 price target on shares of Novan in a research report on Monday, September 25th. Zacks Investment Research raised shares of Novan from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th.

Shares of Novan (NASDAQ NOVN) traded down $0.18 on Friday, hitting $4.22. 107,100 shares of the stock traded hands, compared to its average volume of 209,243. Novan has a 52-week low of $3.52 and a 52-week high of $27.76. The stock has a market cap of $67.48, a PE ratio of -0.53 and a beta of 5.15.

A hedge fund recently bought a new stake in Novan stock. Goldman Sachs Group Inc. bought a new stake in shares of Novan Inc (NASDAQ:NOVN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,972 shares of the company’s stock, valued at approximately $105,000. Goldman Sachs Group Inc. owned about 0.16% of Novan as of its most recent SEC filing. Hedge funds and other institutional investors own 5.84% of the company’s stock.

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About Novan

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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