Wedbush restated their outperform rating on shares of Novan Inc (NASDAQ:NOVN) in a research note issued to investors on Monday. Wedbush currently has a $27.00 price target on the stock.

NOVN has been the topic of several other research reports. JMP Securities initiated coverage on shares of Novan in a report on Monday, October 17th. They issued an outperform rating and a $31.00 target price on the stock. Piper Jaffray Cos. initiated coverage on shares of Novan in a report on Monday, October 17th. They issued an overweight rating and a $25.00 target price on the stock. Finally, Credit Suisse Group AG initiated coverage on shares of Novan in a report on Monday, October 17th. They issued an outperform rating and a $18.97 target price on the stock.

Shares of Novan (NASDAQ:NOVN) opened at 21.31 on Monday. The firm’s market cap is $339.66 billion. Novan has a 1-year low of $13.77 and a 1-year high of $23.79. The stock’s 50 day moving average is $20.44 and its 200-day moving average is $20.46.

Novan (NASDAQ:NOVN) last issued its earnings results on Monday, November 14th. The company reported ($5.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.40) by $4.36. During the same period in the previous year, the company posted ($2.66) EPS. Analysts expect that Novan will post ($9.88) earnings per share for the current year.

In other Novan news, major shareholder Life Sciences Holdings L. Malin bought 800,000 shares of the firm’s stock in a transaction on Monday, September 26th. The stock was acquired at an average price of $11.00 per share, with a total value of $8,800,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

A number of institutional investors have recently modified their holdings of NOVN. Partner Investment Management L.P. purchased a new stake in Novan during the third quarter worth about $141,000. Spark Investment Management LLC purchased a new stake in Novan during the third quarter worth about $228,000. Geduld E E purchased a new stake in Novan during the third quarter worth about $252,000. Emerald Acquisition Ltd. purchased a new stake in Novan during the third quarter worth about $537,000. Finally, Monashee Investment Management LLC purchased a new stake in Novan during the third quarter worth about $1,514,000.

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

Receive News & Stock Ratings for Novan Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novan Inc and related stocks with our FREE daily email newsletter.