Novan Inc (NASDAQ:NOVN) issued its earnings results on Monday. The company reported ($5.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.40) by $4.36. During the same period last year, the firm earned ($2.66) earnings per share.

A number of equities analysts have recently issued reports on NOVN shares. Piper Jaffray Cos. started coverage on Novan in a research note on Monday, October 17th. They set an “overweight” rating and a $25.00 target price for the company. Wedbush started coverage on Novan in a research note on Monday, October 17th. They set an “outperform” rating and a $27.00 target price for the company. JMP Securities started coverage on Novan in a research note on Monday, October 17th. They set an “outperform” rating and a $31.00 target price for the company. Finally, Credit Suisse Group AG started coverage on Novan in a research note on Monday, October 17th. They set an “outperform” rating and a $18.97 target price for the company.

In other news, major shareholder Life Sciences Holdings L. Malin bought 800,000 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were acquired at an average cost of $11.00 per share, with a total value of $8,800,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

A hedge fund recently bought a new stake in Novan stock. Emerald Acquisition Ltd. bought a new stake in shares of Novan Inc (NASDAQ:NOVN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 26,616 shares of the company’s stock, valued at approximately $537,000. Emerald Acquisition Ltd. owned about 1.09% of Novan as of its most recent filing with the SEC.

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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