Novan (NOVN) to Release Quarterly Earnings on Monday

Novan (NASDAQ:NOVNGet Rating) is scheduled to announce its earnings results before the market opens on Monday, May 16th. Analysts expect the company to announce earnings of ($0.57) per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Novan (NASDAQ:NOVNGet Rating) last issued its quarterly earnings results on Tuesday, February 22nd. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.02). The business had revenue of $0.66 million during the quarter, compared to the consensus estimate of $0.70 million. Novan had a negative net margin of 1,003.79% and a negative return on equity of 152.89%. During the same quarter in the previous year, the business posted ($0.70) EPS. On average, analysts expect Novan to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

NASDAQ:NOVN opened at $2.64 on Monday. Novan has a twelve month low of $2.60 and a twelve month high of $20.74. The company has a 50-day simple moving average of $3.31. The firm has a market capitalization of $50.55 million, a price-to-earnings ratio of -1.49 and a beta of 0.18.

In other news, Director John W. Palmour purchased 10,000 shares of the business’s stock in a transaction dated Friday, March 18th. The shares were purchased at an average cost of $3.63 per share, with a total value of $36,300.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders acquired 20,000 shares of company stock valued at $70,480 over the last quarter. Corporate insiders own 1.70% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in shares of Novan in the fourth quarter worth $1,436,000. Morgan Stanley grew its position in shares of Novan by 16.3% in the 1st quarter. Morgan Stanley now owns 258,617 shares of the company’s stock valued at $404,000 after buying an additional 36,196 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Novan in the fourth quarter valued at about $180,000. Virtu Financial LLC bought a new position in shares of Novan during the fourth quarter worth about $151,000. Finally, Oak Harbor Wealth Partners LLC acquired a new position in shares of Novan in the fourth quarter worth approximately $135,000. 12.95% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $24.00 price target on shares of Novan in a research note on Tuesday, March 15th. StockNews.com assumed coverage on shares of Novan in a research report on Thursday, March 31st. They issued a “sell” rating on the 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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Earnings History for Novan (NASDAQ:NOVN)

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