Headlines about Novan (NASDAQ:NOVN) have been trending somewhat positive recently, according to Accern. Accern identifies negative and positive press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Novan earned a coverage optimism score of 0.06 on Accern’s scale. Accern also gave media coverage about the company an impact score of 45.349337165977 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

Here are some of the headlines that may have impacted Accern’s analysis:

Several brokerages recently issued reports on NOVN. Zacks Investment Research downgraded Novan from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. Piper Jaffray Companies restated a “buy” rating on shares of Novan in a report on Thursday, August 3rd. Finally, ValuEngine cut Novan from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $14.69.

Novan (NOVN) traded down 2.97% during trading on Friday, reaching $4.90. The company’s stock had a trading volume of 31,974 shares. The stock has a 50-day moving average of $4.38 and a 200 day moving average of $5.03. Novan has a one year low of $3.52 and a one year high of $30.90. The firm’s market capitalization is $78.32 million.

In other news, Director John W. Palmour bought 12,000 shares of Novan stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average price of $3.99 per share, with a total value of $47,880.00. Following the completion of the acquisition, the director now directly owns 253,568 shares of the company’s stock, valued at $1,011,736.32. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 10.72% of the stock is owned by corporate insiders.

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About Novan

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).

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