Novan, Inc. (NASDAQ:NOVN – Get Rating) – HC Wainwright cut their FY2025 earnings estimates for shares of Novan in a research note issued on Friday, November 18th. HC Wainwright analyst O. Livnat now expects that the company will post earnings of $0.18 per share for the year, down from their previous forecast of $0.19. HC Wainwright currently has a “Buy” rating and a $17.00 target price on the stock. The consensus estimate for Novan’s current full-year earnings is ($1.67) per share.
Separately, StockNews.com started coverage on shares of Novan in a report on Wednesday, October 12th. They set a “sell” rating for the company.
Novan Price Performance
Institutional Investors Weigh In On Novan
A number of institutional investors have recently added to or reduced their stakes in NOVN. State Street Corp boosted its stake in Novan by 9.2% during the 1st quarter. State Street Corp now owns 54,668 shares of the company’s stock worth $215,000 after purchasing an additional 4,592 shares during the last quarter. Vanguard Group Inc. boosted its stake in Novan by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 789,719 shares of the company’s stock worth $3,112,000 after purchasing an additional 8,899 shares during the last quarter. Forum Financial Management LP acquired a new stake in Novan during the 3rd quarter worth $28,000. First Horizon Advisors Inc. acquired a new stake in Novan during the 1st quarter worth $59,000. Finally, Citadel Advisors LLC acquired a new stake in Novan during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 15.65% of the company’s stock.
Novan, Inc, a medical dermatology company, focuses on researching, developing, and commercializing therapeutic products for skin diseases. 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.
- Get a free copy of the StockNews.com research report on Novan (NOVN)
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