Novan Inc (NOVN) Expected to Earn FY2018 Earnings of ($1.09) Per Share

Novan Inc (NASDAQ:NOVN) – Stock analysts at Piper Jaffray Companies upped their FY2018 earnings per share estimates for shares of Novan in a research note issued on Monday, November 5th. Piper Jaffray Companies analyst D. Amsellem now forecasts that the company will post earnings of ($1.09) per share for the year, up from their previous estimate of ($1.10). Piper Jaffray Companies has a “Buy” rating and a $6.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Novan’s Q4 2018 earnings at ($0.32) EPS, Q1 2019 earnings at ($0.30) EPS, Q2 2019 earnings at ($0.19) EPS, FY2019 earnings at ($0.87) EPS, FY2020 earnings at ($0.72) EPS and FY2021 earnings at ($0.65) EPS.

A number of other equities analysts have also weighed in on the stock. HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of Novan in a research report on Tuesday. Zacks Investment Research lowered shares of Novan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $7.75.

NOVN opened at $2.67 on Thursday. The stock has a market cap of $66.97 million, a P/E ratio of -1.15 and a beta of 1.17. Novan has a twelve month low of $2.27 and a twelve month high of $6.23.

Novan (NASDAQ:NOVN) last posted its quarterly earnings results on Wednesday, August 8th. The company reported ($0.29) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.29). The firm had revenue of $0.65 million for the quarter, compared to analyst estimates of $0.60 million. Novan had a negative net margin of 1,090.89% and a negative return on equity of 999.61%.

An institutional investor recently bought a new position in Novan stock. Prospera Financial Services Inc bought a new stake in Novan Inc (NASDAQ:NOVN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 76,102 shares of the company’s stock, valued at approximately $224,000. Prospera Financial Services Inc owned about 0.29% of Novan at the end of the most recent reporting period. 11.67% of the stock is owned by institutional investors.

In other news, CEO G. Kelly Martin bought 30,000 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were bought at an average cost of $2.71 per share, for a total transaction of $81,300.00. Following the acquisition, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at approximately $81,300. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Alexander Ingram bought 50,000 shares of the firm’s stock in a transaction on Friday, September 28th. The stock was purchased at an average price of $2.84 per share, for a total transaction of $142,000.00. Following the completion of the acquisition, the director now directly owns 119,777 shares in the company, valued at $340,166.68. The disclosure for this purchase can be found here. Insiders acquired a total of 110,000 shares of company stock worth $303,800 over the last quarter. 8.83% of the stock is currently owned by company insiders.

Novan Company Profile

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.

Recommended Story: Why do companies engage in swaps?

Earnings History and Estimates for Novan (NASDAQ:NOVN)

Receive News & Ratings for Novan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novan and related companies with's FREE daily email newsletter.

Leave a Reply