Novus Therapeutics (NVUS) Coverage Initiated at Ascendiant Capital Markets

Investment analysts at Ascendiant Capital Markets started coverage on shares of Novus Therapeutics (NASDAQ:NVUS) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating and a $7.00 price target on the biopharmaceutical company’s stock. Ascendiant Capital Markets’ price objective suggests a potential upside of 124.36% from the company’s previous close.

Separately, ValuEngine raised shares of Novus Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, February 2nd.

Shares of Novus Therapeutics (NASDAQ NVUS) opened at $3.12 on Tuesday. Novus Therapeutics has a 1 year low of $3.12 and a 1 year high of $8.55. The firm has a market cap of $22.32, a P/E ratio of -0.80 and a beta of 0.73.

A hedge fund recently raised its stake in Novus Therapeutics stock. Lyon Street Capital LLC lifted its stake in shares of Novus Therapeutics Inc (NASDAQ:NVUS) by 311.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,577 shares of the biopharmaceutical company’s stock after buying an additional 126,811 shares during the quarter. Lyon Street Capital LLC owned approximately 2.36% of Novus Therapeutics worth $873,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 40.76% of the company’s stock.

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About Novus Therapeutics

Novus Therapeutics, Inc, formerly Tokai Pharmaceuticals, Inc, is a pharmaceutical company. The Company is focused on the acquisition, development, and commercialization of ear, nose, and throat products. It has two platforms: OP-01 Foam Platform and OP-02 Surfactant Program. OP-01 is developed with the intent to be used as a delivery vehicle for drugs treating ears, as well as the nasal and sinus cavities.

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