The price of Novan Inc. (NASDAQ:NOVN) shares last traded on Wall Street fell -6.44% to $0.17.
Based on available information, 1 analysts follow Novan Inc. (NASDAQ:NOVN). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $14.00 and a low of $14.00, we find $14.00. Given the previous closing price of $0.18, this indicates a potential upside of 7677.78 percent. NOVN stock price is now -80.14% away from the 50-day moving average and -85.74% away from the 200-day moving average. The market capitalization of the company currently stands at $4.33M.
Among analysts, 1 rate the stock a hold while 0 rate it a buy. Brokers who have rated the stock have averaged $14.00 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).
In other news, SANDERS MACHELLE, Director sold 11,553 shares of the company’s stock on Jun 27. The stock was sold for $4,716 at an average price of $0.41. Upon completion of the transaction, the Director now directly owns 25,248 shares in the company, valued at $4292.16. Insiders disposed of 20,669 shares of company stock worth roughly $3513.7300000000005 over the past 1 year. A total of 0.45% 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 ARMISTICE CAPITAL, LLC during the first quarter worth $378,000. TWO SIGMA SECURITIES, LLC invested $7,000 in shares of NOVN during the first quarter. In the first quarter, DRW SECURITIES, LLC acquired a new stake in Novan Inc. valued at approximately $3,000. In total, there are 38 active investors with 18.90% ownership of the company’s stock.
A candlestick chart of Novan Inc. (NASDAQ: NOVN) showed a price of $0.1572 on Tuesday morning. During the past 12 months, Novan Inc. has had a low of $0.15 and a high of $3.33. The fifty day moving average price for NOVN is $0.8289 and a two-hundred day moving average price translates $1.1719 for the stock.
The latest earnings results from Novan Inc. (NASDAQ: NOVN) was released for Mar, 2023. According to the Biotechnology Company, earnings per share came in at -$0.54, missing analysts’ expectations of -$0.32 by -0.22. This compares to -$0.71 EPS in the same period last year. The company reported revenue of $3.17 million for the quarter, compared to $1.93 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 64.21 percent. For the current quarter, analysts expect NOVN to generate $6.33M in revenue.
Novan Inc.(NOVN) Company Profile
Novan, Inc., a medical dermatology company, focuses on 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 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. The company was incorporated in 2006 and is headquartered in Durham, North Carolina. On July 17, 2023, Novan, Inc., along with its affiliate, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware.
