Piper Jaffray Cos. started coverage on shares of Novan Inc (NASDAQ:NOVN) in a research report released on Monday. The firm issued an overweight rating and a $25.00 price target on the stock.

Novan (NASDAQ:NOVN) traded up 3.1656% during mid-day trading on Monday, hitting $21.1799. 12,275 shares of the stock traded hands. Novan has a 1-year low of $13.77 and a 1-year high of $23.79. The firm’s market capitalization is $51.83 million. The company has a 50-day moving average of $19.83 and a 200 day moving average of $19.83.

In other news, major shareholder Life Sciences Holdings L. Malin acquired 800,000 shares of the 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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).

5 Day Chart for NASDAQ:NOVN

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