ValuEngine lowered shares of NOVAN INC (NASDAQ:NOVN) from a sell rating to a strong sell rating in a report released on Friday.

NOVN has been the subject of a number of other reports. Zacks Investment Research lowered shares of NOVAN INC from a hold rating to a sell rating in a research note on Tuesday, August 8th. Piper Jaffray Companies reissued a buy rating on shares of NOVAN INC in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $14.69.

NOVAN INC (NOVN) opened at 5.40 on Friday. The firm’s market cap is $86.31 million. NOVAN INC has a 1-year low of $3.52 and a 1-year high of $30.90. The firm has a 50-day moving average of $6.31 and a 200 day moving average of $6.31.

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In other news, Director Robert Alexander Ingram bought 12,000 shares of NOVAN INC stock in a transaction on Tuesday, August 29th. The stock was purchased at an average cost of $4.57 per share, with a total value of $54,840.00. Following the purchase, the director now directly owns 61,312 shares of the company’s stock, valued at approximately $280,195.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.72% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Driehaus Capital Management LLC lifted its stake in shares of NOVAN INC by 21.8% in the 1st quarter. Driehaus Capital Management LLC now owns 280,147 shares of the company’s stock worth $1,787,000 after acquiring an additional 50,075 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of NOVAN INC in the 2nd quarter worth approximately $105,000. Finally, Vanguard Group Inc. lifted its stake in shares of NOVAN INC by 7.3% in the 2nd quarter. Vanguard Group Inc. now owns 194,611 shares of the company’s stock worth $785,000 after acquiring an additional 13,257 shares during the period. 6.05% of the stock is owned by hedge funds and other institutional investors.

NOVAN INC 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).

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