Novan Inc (NOVN) Forecasted to Post Q3 2016 Earnings of ($2.26) Per Share
Novan Inc (NASDAQ:NOVN) – Analysts at Wedbush issued their Q3 2016 earnings per share (EPS) estimates for Novan in a research note issued to investors on Monday. Wedbush analyst D. Nierengarten expects that the brokerage will earn ($2.26) per share for the quarter. Wedbush has a “Outperform” rating and a $27.00 price objective on the stock. Wedbush also issued estimates for Novan’s Q4 2016 earnings at ($0.95) EPS, FY2016 earnings at ($15.13) EPS, Q1 2017 earnings at ($1.01) EPS, Q2 2017 earnings at ($0.75) EPS, Q3 2017 earnings at ($0.69) EPS, Q4 2017 earnings at ($0.65) EPS, FY2017 earnings at ($3.09) EPS, FY2018 earnings at ($3.69) EPS, FY2019 earnings at ($3.54) EPS and FY2020 earnings at ($3.27) EPS.
A number of other equities research analysts have also issued reports on the stock. Credit Suisse Group AG initiated coverage on shares of Novan in a report on Monday. They set an “outperform” rating and a $18.97 price target on the stock. Piper Jaffray Cos. initiated coverage on shares of Novan in a report on Monday. They set an “overweight” rating and a $25.00 price target on the stock. Finally, JMP Securities initiated coverage on shares of Novan in a report on Monday. They set an “outperform” rating and a $31.00 price target on the stock.
Novan (NASDAQ:NOVN) traded up 0.587% during trading on Wednesday, hitting $20.731. 9,361 shares of the company traded hands. Novan has a one year low of $13.77 and a one year high of $23.79. The firm’s market cap is $50.73 million. The firm has a 50 day moving average of $19.87 and a 200 day moving average of $19.87.
In related news, major shareholder Life Sciences Holdings L. Malin acquired 800,000 shares of the company’s stock in a transaction on Monday, September 26th. The shares were purchased at an average price of $11.00 per share, for a total transaction of $8,800,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.
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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