Novan Inc (NASDAQ:NOVN) – Stock analysts at Piper Jaffray Companies boosted their Q3 2019 earnings estimates for shares of Novan in a research note issued on Tuesday, November 12th. Piper Jaffray Companies analyst D. Amsellem now anticipates that the company will earn ($0.32) per share for the quarter, up from their prior forecast of ($0.33). Piper Jaffray Companies also issued estimates for Novan’s Q4 2019 earnings at ($0.36) EPS, Q3 2020 earnings at ($0.20) EPS, Q4 2020 earnings at ($0.19) EPS, FY2020 earnings at ($0.81) EPS, Q1 2021 earnings at ($0.20) EPS, Q2 2021 earnings at ($0.22) EPS, Q3 2021 earnings at ($0.19) EPS, FY2021 earnings at ($0.76) EPS and FY2023 earnings at $0.26 EPS.

Other analysts have also recently issued reports about the company. Zacks Investment Research cut Novan from a “hold” rating to a “sell” rating in a research report on Saturday. ValuEngine raised Novan from a “hold” rating to a “buy” rating in a research report on Friday, November 8th.

NOVN stock opened at $2.00 on Friday. The stock’s 50 day simple moving average is $2.39 and its 200 day simple moving average is $2.38. The company has a market cap of $58.24 million, a P/E ratio of -1.77 and a beta of 1.92. Novan has a fifty-two week low of $0.65 and a fifty-two week high of $3.02.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Novan by 38.8% during the second quarter. Vanguard Group Inc. now owns 456,346 shares of the company’s stock valued at $1,232,000 after purchasing an additional 127,534 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Novan by 49.3% during the second quarter. Renaissance Technologies LLC now owns 201,949 shares of the company’s stock valued at $545,000 after purchasing an additional 66,658 shares during the last quarter. BlackRock Inc. raised its holdings in Novan by 105.6% in the 2nd quarter. BlackRock Inc. now owns 95,990 shares of the company’s stock worth $260,000 after acquiring an additional 49,305 shares during the last quarter. Prospera Financial Services Inc raised its holdings in Novan by 11.8% in the 3rd quarter. Prospera Financial Services Inc now owns 95,435 shares of the company’s stock worth $246,000 after acquiring an additional 10,083 shares during the last quarter. Finally, RMB Capital Management LLC raised its holdings in Novan by 21.3% in the 2nd quarter. RMB Capital Management LLC now owns 57,000 shares of the company’s stock worth $154,000 after acquiring an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 4.60% 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.

Recommended Story: Why do companies issue monthly dividends?

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 MarketBeat.com's FREE daily email newsletter.