Novus Therapeutics (NVUS) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Novus Therapeutics (NASDAQ:NVUS) from a hold rating to a sell rating in a research note released on Thursday morning.

According to Zacks, “Novus Therapeutics, Inc. is a pharmaceutical company. It focused on the acquisition, development and commercialization of ear, nose and throat products. The company’s platform consists of OP-01 Foam Platform and OP-02 Surfactant Program. Novus Therapeutics, Inc., formerly known as Tokai Pharmaceuticals Inc., is based in Irvine, United States. “

NVUS has been the subject of several other research reports. ValuEngine downgraded shares of Novus Therapeutics from a buy rating to a hold rating in a research report on Friday, September 7th. LADENBURG THALM/SH SH initiated coverage on shares of Novus Therapeutics in a research report on Tuesday, September 11th. They set a buy rating and a $12.00 price target for the company.

NVUS opened at $3.47 on Thursday. Novus Therapeutics has a twelve month low of $3.12 and a twelve month high of $8.61. The stock has a market cap of $32.69 million, a P/E ratio of -1.51 and a beta of 0.77.

Novus Therapeutics (NASDAQ:NVUS) last released its quarterly earnings results on Tuesday, November 13th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.01. Analysts forecast that Novus Therapeutics will post -1.45 earnings per share for the current year.

In related news, President Catherine C. Turkel purchased 33,680 shares of Novus Therapeutics stock in a transaction that occurred on Wednesday, September 12th. The stock was purchased at an average price of $4.78 per share, for a total transaction of $160,990.40. Following the transaction, the president now directly owns 61,567 shares in the company, valued at $294,290.26. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 4.30% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its holdings in Novus Therapeutics by 78.0% in the 2nd quarter. Renaissance Technologies LLC now owns 195,588 shares of the biopharmaceutical company’s stock valued at $1,369,000 after acquiring an additional 85,712 shares during the last quarter. National Asset Management Inc. raised its holdings in Novus Therapeutics by 345.9% in the 3rd quarter. National Asset Management Inc. now owns 45,000 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 34,908 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Novus Therapeutics by 73.5% in the 3rd quarter. Vanguard Group Inc. now owns 135,599 shares of the biopharmaceutical company’s stock valued at $633,000 after acquiring an additional 57,450 shares during the last quarter. Institutional investors own 42.39% of the company’s stock.

Novus Therapeutics Company Profile

Novus Therapeutics, Inc, a pharmaceutical company, focuses on developing products for patients with disorders of ear, nose, and throat. Its lead product is (OP-02), a surfactant-based combination drug product for patients at risk for, or with, otitis media (OM) (middle ear inflammation with or without infection).

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