Novan Stock Forecast, Price & News

2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Novan in the last twelve months. There are currently 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" Novan stock.
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Wall Street analysts have given Novan a "Buy" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but Novan wasn't one of them. MarketBeat thinks these five companies may be even better buys.
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Novan saw a decline in short interest during the month of May. As of May 28th, there was short interest totaling 306,500 shares, a decline of 87.5% from the May 13th total of 2,460,000 shares. Based on an average daily trading volume, of 634,800 shares, the days-to-cover ratio is presently 0.5 days. Currently, 2.1% of the shares of the stock are short sold.
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Novan is scheduled to release its next quarterly earnings announcement on Friday, August 13th 2021.
View our earnings forecast for Novan.

Novan, Inc. (NASDAQ:NOVN) posted its quarterly earnings results on Tuesday, May, 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of ($0.05) by $0.01. The company had revenue of $0.82 million for the quarter, compared to the consensus estimate of $0.96 million. Novan had a negative trailing twelve-month return on equity of 1,050.18% and a negative net margin of 708.75%.
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Novan's stock was trading at $0.52 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization. Since then, NOVN stock has increased by 1,917.3% and is now trading at $10.49.
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2 Wall Street analysts have issued twelve-month price targets for Novan's stock. Their forecasts range from $2.00 to $3.00. On average, they expect Novan's share price to reach $2.50 in the next twelve months. This suggests that the stock has a possible downside of 76.2%.
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Some companies that are related to Novan include Spectrum Pharmaceuticals (SPPI), Akebia Therapeutics (AKBA), Esperion Therapeutics (ESPR), Gossamer Bio (GOSS), Altimmune (ALT), Adagene (ADAG), Catalyst Pharmaceuticals (CPRX), AC Immune (ACIU), Bolt Biotherapeutics (BOLT), ZIOPHARM Oncology (ZIOP), Annovis Bio (ANVS), Vaccitech (VACC), Citius Pharmaceuticals (CTXR), Eagle Pharmaceuticals (EGRX) and Relmada Therapeutics (RLMD).
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Based on aggregate information from My MarketBeat watchlists, some companies that other Novan investors own include Bionano Genomics (BNGO), Gran Tierra Energy (GTE), Pennsylvania Real Estate Investment Trust (PEI), ADMA Biologics (ADMA), Cannabics Pharmaceuticals (CNBX), Matinas BioPharma (MTNB), Zosano Pharma (ZSAN), Aeterna Zentaris (AEZS), CBL & Associates Properties (CBL) and OrganiGram (OGI).

(NOVN) raised $46 million in an initial public offering (IPO) on Wednesday, September 21st 2016. The company issued 3,800,000 shares at a price of $11.00-$13.00 per share. Piper Jaffray served as the underwriter for the IPO and JMP Securities and Wedbush PacGrow were co-managers.

Novan trades on the NASDAQ under the ticker symbol "NOVN."

Novan's stock is owned by many different retail and institutional investors. Top institutional investors include BlackRock Inc. (1.76%), Renaissance Technologies LLC (1.20%), Geode Capital Management LLC (0.78%), Millennium Management LLC (0.73%), Northern Trust Corp (0.20%) and Morgan Stanley (0.17%). Company insiders that own Novan stock include Life Sciences Holdings L Malin and Paula B Stafford.
View institutional ownership trends for Novan.

NOVN stock was sold by a variety of institutional investors in the last quarter, including BlackRock Inc..
View insider buying and selling activity for Novan or view top insider-selling stocks.

NOVN stock was purchased by a variety of institutional investors in the last quarter, including Renaissance Technologies LLC, Millennium Management LLC, Citadel Advisors LLC, Geode Capital Management LLC, Squarepoint Ops LLC, Edmond DE Rothschild Holding S.A., Price T Rowe Associates Inc. MD, and Bank of New York Mellon Corp.
View insider buying and selling activity for Novan or or view top insider-buying stocks.

Shares of NOVN can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of NOVN stock can currently be purchased for approximately $10.49.

Novan has a market capitalization of $159.14 million and generates $4.92 million in revenue each year. The company earns $-29,290,000.00 in net income (profit) each year or ($2.60) on an earnings per share basis.

Novan employs 23 workers across the globe.

The official website for Novan is www.novan.com.

Novan is headquartered at 4105 HOPSON ROAD, MORRISVILLE NC, 27560.

Novan's mailing address is 4105 HOPSON ROAD, MORRISVILLE NC, 27560. The company can be reached via phone at (919) 485-8080 or via email at [email protected]