Stock analysts at Piper Jaffray Cos. started coverage on shares of Novan Inc (NASDAQ:NOVN) in a note issued to investors on Monday. The firm set an “overweight” rating on the stock.

Shares of Novan (NASDAQ:NOVN) opened at 18.97 on Monday. The stock has a 50 day moving average price of $19.79 and a 200-day moving average price of $19.79. The company’s market cap is $46.42 million. Novan has a 1-year low of $13.77 and a 1-year high of $23.79.

In other news, major shareholder Life Sciences Holdings L. Malin purchased 800,000 shares of the business’s stock in a transaction on Monday, September 26th. The stock was purchased at an average price of $11.00 per share, with a total value of $8,800,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

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).

5 Day Chart for NASDAQ:NOVN

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