Wall Street analysts expect Novan, Inc. (NASDAQ:NOVN – Get Rating) to announce sales of $6.53 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Novan’s earnings, with the lowest sales estimate coming in at $4.75 million and the highest estimate coming in at $7.90 million. Novan reported sales of $750,000.00 in the same quarter last year, which would suggest a positive year-over-year growth rate of 770.7%. The company is expected to report its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Novan will report full-year sales of $22.10 million for the current financial year, with estimates ranging from $16.08 million to $25.68 million. For the next fiscal year, analysts anticipate that the company will report sales of $31.34 million, with estimates ranging from $25.22 million to $39.63 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Novan.
Novan (NASDAQ:NOVN – Get Rating) last released its earnings results on Monday, May 16th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.14). Novan had a negative return on equity of 165.01% and a negative net margin of 838.95%. During the same quarter last year, the business earned ($0.60) EPS.
In other news, Director John W. Palmour acquired 10,000 shares of the stock in a transaction that occurred on Friday, March 18th. The stock was purchased at an average cost of $3.63 per share, for a total transaction of $36,300.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders bought 20,000 shares of company stock valued at $70,480. 1.70% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. bought a new position in shares of Novan during the 1st quarter valued at about $59,000. B. Riley Wealth Management Inc. lifted its holdings in shares of Novan by 14.8% during the 3rd quarter. B. Riley Wealth Management Inc. now owns 22,000 shares of the company’s stock valued at $179,000 after purchasing an additional 2,843 shares in the last quarter. Millennium Management LLC bought a new position in shares of Novan during the 4th quarter valued at about $98,000. Goldman Sachs Group Inc. bought a new position in shares of Novan during the 1st quarter valued at about $113,000. Finally, Oak Harbor Wealth Partners LLC bought a new position in shares of Novan during the 4th quarter valued at about $135,000. Hedge funds and other institutional investors own 12.95% of the company’s stock.
Shares of NASDAQ:NOVN traded up $0.05 during trading hours on Friday, reaching $2.58. The stock had a trading volume of 69,131 shares, compared to its average volume of 141,056. The company has a debt-to-equity ratio of 2.81, a quick ratio of 4.85 and a current ratio of 1.25. The firm’s 50 day moving average is $3.06 and its 200-day moving average is $3.78. Novan has a 1 year low of $2.24 and a 1 year high of $20.74. The stock has a market capitalization of $49.47 million, a price-to-earnings ratio of -1.37 and a beta of 0.18.
Novan Company Profile (Get Rating)
Novan, Inc, a pre-commercial nitric oxide-based pharmaceutical company, focuses on dermatology and anti-infective therapies. Its clinical stage dermatology drug candidates include SB204, a topical monotherapy for the treatment of acne vulgaris; SB206, a topical anti-viral gel for the treatment of viral skin infections; SB208, a topical broad-spectrum anti-fungal gel for the treatment of fungal infections of the skin and nails, including athlete's foot and fungal nail infections; and SB414, a topical cream-based gel product candidate for the treatment of inflammatory skin diseases.
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