Novan, Inc. (NASDAQ:NOVN) Expected to Announce Earnings of -$0.62 Per Share

Brokerages forecast that Novan, Inc. (NASDAQ:NOVNGet Rating) will announce earnings per share (EPS) of ($0.62) for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Novan’s earnings, with the lowest EPS estimate coming in at ($0.66) and the highest estimate coming in at ($0.56). Novan posted earnings of ($0.39) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 59%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Novan will report full year earnings of ($2.22) per share for the current year, with EPS estimates ranging from ($2.54) to ($1.79). For the next fiscal year, analysts anticipate that the firm will report earnings of ($2.04) per share, with EPS estimates ranging from ($3.63) to ($0.41). Zacks’ earnings per share averages are an average based on a survey of research firms that follow Novan.

Novan (NASDAQ:NOVNGet Rating) last announced its quarterly 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 period last year, the business posted ($0.60) EPS.

Several equities analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $24.00 price objective on shares of Novan in a research report on Tuesday, March 15th. StockNews.com started coverage on Novan in a report on Thursday, March 31st. They issued a “sell” rating for the company.

NASDAQ NOVN traded down $0.17 on Thursday, reaching $2.67. The stock had a trading volume of 6,592 shares, compared to its average volume of 96,717. The company has a market capitalization of $51.18 million, a price-to-earnings ratio of -1.42 and a beta of 0.20. The business has a 50 day moving average price of $2.91 and a 200 day moving average price of $3.61. Novan has a 1 year low of $2.24 and a 1 year high of $20.74. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 2.81.

In other Novan news, Director John W. Palmour acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 18th. The shares were acquired at an average price of $3.63 per share, with a total value of $36,300.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders bought 20,000 shares of company stock worth $70,480. 2.00% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of NOVN. Morgan Stanley raised its position in shares of Novan by 16.3% in the first quarter. Morgan Stanley now owns 258,617 shares of the company’s stock valued at $404,000 after buying an additional 36,196 shares in the last quarter. Geode Capital Management LLC boosted its position in Novan by 9.5% during the third quarter. Geode Capital Management LLC now owns 134,684 shares of the company’s stock valued at $1,096,000 after acquiring an additional 11,721 shares during the last quarter. GSA Capital Partners LLP boosted its position in Novan by 557.7% during the third quarter. GSA Capital Partners LLP now owns 89,211 shares of the company’s stock valued at $726,000 after acquiring an additional 75,646 shares during the last quarter. B. Riley Wealth Management Inc. boosted its position in Novan by 50.7% during the fourth quarter. B. Riley Wealth Management Inc. now owns 33,150 shares of the company’s stock valued at $138,000 after acquiring an additional 11,150 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Novan during the fourth quarter valued at $1,436,000. Institutional investors own 12.95% of the company’s stock.

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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