Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Novan (NOVN) Share Price

Press coverage about Novan (NASDAQ:NOVN) has been trending somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative press coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Novan earned a news sentiment score of 0.21 on Accern’s scale. Accern also assigned press coverage about the company an impact score of 45.2960242775769 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

Novan (NASDAQ NOVN) traded up 4.41% during mid-day trading on Tuesday, reaching $6.15. 50,610 shares of the company were exchanged. Novan has a one year low of $3.52 and a one year high of $30.90. The company’s market capitalization is $98.30 million. The stock has a 50-day moving average price of $5.61 and a 200 day moving average price of $5.61.

A number of analysts recently issued reports on NOVN shares. ValuEngine downgraded shares of Novan from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies restated a “buy” rating on shares of Novan in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Novan from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, Wedbush restated a “neutral” rating and set a $6.00 price objective on shares of Novan in a report on Monday, September 25th.

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In related news, Director Robert Alexander Ingram bought 12,000 shares of the stock in a transaction on Tuesday, August 29th. The shares were acquired at an average price of $4.57 per share, for a total transaction of $54,840.00. Following the purchase, the director now owns 61,312 shares of the company’s stock, valued at $280,195.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 10.72% of the stock is currently owned by corporate insiders.

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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