Novan (NOVN) Receiving Somewhat Positive News Coverage, Report Finds

Media coverage about Novan (NASDAQ:NOVN) has been trending somewhat positive on Tuesday, Accern Sentiment reports. The research group identifies negative and positive media coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Novan earned a media sentiment score of 0.13 on Accern’s scale. Accern also gave media coverage about the company an impact score of 45.9156217135201 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

Here are some of the news headlines that may have impacted Accern’s analysis:

Several research firms recently issued reports on NOVN. Zacks Investment Research lowered Novan from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. Piper Jaffray Companies set a $11.00 target price on Novan and gave the stock a “buy” rating in a research note on Wednesday, April 12th. ValuEngine lowered Novan from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, Wedbush reissued a “neutral” rating and set a $8.00 target price on shares of Novan in a research note on Wednesday, April 12th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $14.69.

Shares of Novan (NASDAQ:NOVN) traded down 1.68% during midday trading on Tuesday, reaching $4.69. The company’s stock had a trading volume of 67,751 shares. The firm’s market capitalization is $74.89 million. The firm’s 50 day moving average is $4.21 and its 200 day moving average is $5.95. Novan has a 52 week low of $3.52 and a 52 week high of $30.90.

Novan (NASDAQ:NOVN) last issued its quarterly earnings data on Friday, May 12th. The company reported ($0.73) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.49) by $0.24. The business had revenue of $0.10 million during the quarter, compared to the consensus estimate of $10.80 million. Equities analysts forecast that Novan will post ($2.25) EPS for the current fiscal year.

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Novan Company Profile

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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