Somewhat Positive News Coverage Somewhat Unlikely to Affect Novan (NOVN) Stock Price
Press coverage about Novan (NASDAQ:NOVN) has been trending somewhat positive on Sunday, according to Accern. The research group identifies positive and negative news coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Novan earned a media sentiment score of 0.09 on Accern’s scale. Accern also gave headlines about the company an impact score of 45.8958111412257 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Shares of Novan (NASDAQ NOVN) traded down 1.97% during midday trading on Friday, reaching $3.99. The company’s stock had a trading volume of 55,611 shares. The company’s 50-day moving average price is $4.28 and its 200 day moving average price is $5.02. Novan has a 1-year low of $3.52 and a 1-year high of $30.90. The firm’s market capitalization is $63.78 million.
A number of brokerages have weighed in on NOVN. Zacks Investment Research cut Novan from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Piper Jaffray Companies reiterated a “buy” rating on shares of Novan in a research note on Thursday, August 3rd. Finally, ValuEngine cut Novan from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Novan has a consensus rating of “Hold” and an average target price of $14.69.
Novan, Inc is a late-stage pharmaceutical company. The Company is engaged in the development and commercialization of therapies using its nitric oxide platform. The Company develops product candidates using its Nitricil technology, which enables the Company to engineer tunable new chemical entities (NCEs).
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