Novan Inc. (NASDAQ:NOVN) shares traded -26.96% lower at $1.49 on Wall Street last session.
In accordance with the data, 5 analysts cover Novan Inc. (NASDAQ:NOVN). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $25.00 and a low of $8.00, we find $12.00. Given the previous closing price of $2.04, this indicates a potential upside of 488.24 percent. NOVN stock price is now 26.66% away from the 50-day moving average and -32.40% away from the 200-day moving average. The market capitalization of the company currently stands at $49.90M.
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It has been rated a hold by 0 analysts and a buy by 5. Brokers who have rated the stock have averaged $14.40 as their price target over the next twelve months.
With the price target of $30, Cantor Fitzgerald recently initiated with Overweight rating for Novan Inc. (NASDAQ: NOVN). On April 22, 2021, ROTH Capital recently initiated its ‘Buy’ rating on the stock quoting a target price of $3, while ‘Piper Jaffray’ rates the stock as ‘Neutral’.
In other news, BIERMAN JAMES L, Director bought 1,000 shares of the company’s stock on Apr 07. The stock was bought for $3,449 at an average price of $3.45. Upon completion of the transaction, the Director now directly owns 4,000 shares in the company, valued at $5960.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 28, Director BIERMAN JAMES L bought 1,000 shares of the business’s stock. A total of $3,450 was incurred on buying the stock at an average price of $3.45. This leaves the insider owning 3,000 shares of the company worth $4470.0. A total of 3.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NOVN stock. A new stake in Novan Inc. shares was purchased by WEALTHSOURCE PARTNERS, LLC during the first quarter worth $232,000. B. RILEY WEALTH ADVISORS, INC. invested $131,000 in shares of NOVN during the first quarter. In the first quarter, MILLENNIUM MANAGEMENT LLC acquired a new stake in Novan Inc. valued at approximately $83,000. CITADEL ADVISORS LLC acquired a new stake in NOVN for approximately $26,000. FORUM FINANCIAL MANAGEMENT, LP purchased a new stake in NOVN valued at around $22,000 in the second quarter. In total, there are 38 active investors with 18.90% ownership of the company’s stock.
Novan Inc. (NASDAQ: NOVN) opened at $2.0400 on Friday. During the past 12 months, Novan Inc. has had a low of $0.79 and a high of $4.36. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.00, and a quick ratio of 0.90. The fifty day moving average price for NOVN is $1.1836 and a two-hundred day moving average price translates $2.1938 for the stock.
The latest earnings results from Novan Inc. (NASDAQ: NOVN) was released for Jun, 2022. According to the Biotechnology Company, earnings per share came in at -$0.44, beating analysts’ expectations of -$0.57 by 0.13. This compares to -$0.34 EPS in the same period last year. The company reported revenue of $5.12 million for the quarter, compared to $0.74 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 594.03 percent. For the current quarter, analysts expect NOVN to generate $6.21M in revenue.
Novan Inc.(NOVN) Company Profile
Novan, Inc., a medical dermatology company, focuses on researching, developing, and commercializing therapeutic products for skin diseases. Its clinical stage dermatology drug candidates include SB204, a topical monotherapy for the treatment of acne vulgaris; SB206, a topical anti-viral gel for the treatment of viral skin infections; SB208, a topical broad-spectrum anti-fungal gel for the treatment of fungal infections of the skin and nails, including athlete’s foot and fungal nail infections; and SB414, a topical cream-based gel product candidate for the treatment of inflammatory skin diseases. The company also develops SB207, an anti-viral product candidate for the treatment of external genital warts; WH602, a nitric oxide-containing intravaginal gel to treat high-risk human papilloma virus (HPV); WH504, a non-gel formulation product candidate to treat high-risk HPV; and SB019 for the treatment of SARS-CoV-2. Novan, Inc. has a license agreement with Sato Pharmaceutical Co., Ltd.; and a strategic alliance with Orion Corporation. Novan, Inc. was incorporated in 2006 and is headquartered in Durham, North Carolina.
