Novus Therapeutics (NASDAQ:NVUS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

According to Zacks, “Novus Therapeutics, Inc. is a pharmaceutical company. It focused on the acquisition, development and commercialization of ear, nose and throat products. The company’s platform consists of OP-01 Foam Platform and OP-02 Surfactant Program. Novus Therapeutics, Inc., formerly known as Tokai Pharmaceuticals Inc., is based in Irvine, United States. “

Several other research analysts have also issued reports on the stock. ValuEngine upgraded shares of Novus Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. LADENBURG THALM/SH SH initiated coverage on shares of Novus Therapeutics in a research note on Tuesday, September 11th. They set a “buy” rating and a $12.00 price objective for the company.

Shares of Novus Therapeutics stock opened at $3.72 on Wednesday. The stock has a market capitalization of $37.69 million, a P/E ratio of -1.62 and a beta of 0.77. Novus Therapeutics has a 1 year low of $3.12 and a 1 year high of $8.61.

Novus Therapeutics (NASDAQ:NVUS) last issued its quarterly earnings results on Tuesday, November 13th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.38) by $0.01. On average, analysts anticipate that Novus Therapeutics will post -1.22 earnings per share for the current year.

In other news, President Catherine C. Turkel acquired 33,680 shares of Novus Therapeutics stock in a transaction on Wednesday, September 12th. The stock was acquired at an average cost of $4.78 per share, for a total transaction of $160,990.40. Following the purchase, the president now owns 61,567 shares in the company, valued at $294,290.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.30% of the stock is currently owned by company insiders.

An institutional investor recently raised its position in Novus Therapeutics stock. Renaissance Technologies LLC lifted its stake in Novus Therapeutics Inc (NASDAQ:NVUS) by 28.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 251,556 shares of the biopharmaceutical company’s stock after acquiring an additional 55,968 shares during the quarter. Renaissance Technologies LLC owned 2.67% of Novus Therapeutics worth $1,175,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 42.39% of the company’s stock.

Novus Therapeutics Company Profile

Novus Therapeutics, Inc, a pharmaceutical company, focuses on developing products for patients with disorders of ear, nose, and throat. Its lead product is (OP-02), a surfactant-based combination drug product for patients at risk for, or with, otitis media (OM) (middle ear inflammation with or without infection).

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