Wall Street analysts forecast that Novan Inc (NASDAQ:NOVN) will report earnings per share of ($0.41) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Novan’s earnings, with the highest EPS estimate coming in at ($0.36) and the lowest estimate coming in at ($0.45). Novan posted earnings per share of ($0.14) in the same quarter last year, which would indicate a negative year over year growth rate of 192.9%. The firm is expected to report its next earnings results on Wednesday, March 25th.

On average, analysts expect that Novan will report full year earnings of ($1.69) per share for the current fiscal year, with EPS estimates ranging from ($1.73) to ($1.64). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.79) per share, with EPS estimates ranging from ($1.05) to ($0.52). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Novan.

Novan (NASDAQ:NOVN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.10. The firm had revenue of $1.32 million for the quarter, compared to analysts’ expectations of $1.20 million.

Several analysts recently commented on the stock. ValuEngine downgraded shares of Novan from a “sell” rating to a “strong sell” rating in a research report on Friday, January 3rd. Zacks Investment Research downgraded shares of Novan from a “hold” rating to a “sell” rating in a research report on Saturday, November 16th. HC Wainwright reissued a “buy” rating and set a $1.50 price objective (down from $6.00) on shares of Novan in a research report on Monday, January 6th. Finally, Piper Jaffray Companies cut shares of Novan from an “overweight” rating to a “neutral” rating and set a $0.50 target price on the stock. in a research note on Sunday, January 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $1.75.

NOVN stock traded up $0.01 during trading on Friday, hitting $0.48. 302,284 shares of the stock traded hands, compared to its average volume of 982,097. Novan has a 1 year low of $0.41 and a 1 year high of $3.72. The firm’s 50 day moving average is $0.99 and its two-hundred day moving average is $2.06. The stock has a market cap of $12.69 million, a price-to-earnings ratio of -0.48 and a beta of 2.30.

A number of institutional investors and hedge funds have recently bought and sold shares of NOVN. Virtu Financial LLC bought a new position in Novan during the 3rd quarter valued at about $33,000. Millennium Management LLC bought a new position in Novan during the 3rd quarter valued at about $44,000. Vigilant Capital Management LLC bought a new position in Novan during the 4th quarter valued at about $89,000. Cardinal Capital Management bought a new position in Novan during the 4th quarter valued at about $158,000. Finally, Prospera Financial Services Inc lifted its stake in Novan by 11.8% during the 3rd quarter. Prospera Financial Services Inc now owns 95,435 shares of the company’s stock valued at $246,000 after acquiring an additional 10,083 shares during the period. Institutional investors and hedge funds own 5.85% of the company’s stock.

About Novan

Novan, Inc, a clinical-stage biotechnology company, focuses on the development and commercialization of nitric oxide-based therapies to treat dermatological and oncovirus-mediated diseases. Its clinical stage product candidates include SB204, a topical monotherapy that is in Phase III pivotal clinical trials for the treatment of acne vulgaris; and SB206, a topical antiviral gel, which is in Phase III pivotal trials for the treatment of patients with external genital warts, and Phase II clinical trial for the treatment of molluscum contagiosum.

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Earnings History and Estimates for Novan (NASDAQ:NOVN)

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