Zacks: Brokerages Expect Novan Inc (NOVN) Will Announce Earnings of -$0.55 Per Share

Brokerages expect Novan Inc (NASDAQ:NOVN) to announce earnings of ($0.55) per share for the current quarter, according to Zacks. Zero analysts have provided estimates for Novan’s earnings. Novan reported earnings of ($0.82) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 32.9%. The business is expected to report its next quarterly earnings results on Monday, March 19th.

According to Zacks, analysts expect that Novan will report full year earnings of ($2.45) per share for the current year. For the next fiscal year, analysts expect that the business will post earnings of ($1.58) per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Novan.

Separately, ValuEngine upgraded shares of Novan from a “strong sell” rating to a “sell” rating in a report on Sunday, December 31st.

Shares of Novan (NOVN) traded up $0.01 during trading hours on Thursday, reaching $3.44. 47,800 shares of the company traded hands, compared to its average volume of 136,888. Novan has a one year low of $2.82 and a one year high of $8.19. The firm has a market cap of $89.40, a P/E ratio of -0.43 and a beta of 1.75.

An institutional investor recently bought a new position in Novan stock. Goldman Sachs Group Inc. acquired a new position in shares of Novan Inc (NASDAQ:NOVN) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 25,972 shares of the company’s stock, valued at approximately $105,000. Goldman Sachs Group Inc. owned 0.16% of Novan at the end of the most recent reporting period. Institutional investors and hedge funds own 3.51% of the company’s stock.

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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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Earnings History and Estimates for Novan (NASDAQ:NOVN)

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