Wall Street analysts expect Novan Inc (NASDAQ:NOVN) to announce earnings of ($0.31) per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Novan’s earnings. The lowest EPS estimate is ($0.32) and the highest is ($0.30). Novan reported earnings per share of ($0.51) during the same quarter last year, which would suggest a positive year-over-year growth rate of 39.2%. The company is expected to issue its next earnings results on Tuesday, March 26th.
According to Zacks, analysts expect that Novan will report full-year earnings of ($1.09) per share for the current financial year, with EPS estimates ranging from ($1.09) to ($1.08). For the next financial year, analysts expect that the company will post earnings of ($0.87) per share, with EPS estimates ranging from ($0.87) to ($0.86). Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Novan.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research cut Novan from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised Novan from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, HC Wainwright assumed coverage on Novan in a research note on Friday, October 26th. They issued a “buy” rating and a $8.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $6.75.
Shares of NASDAQ NOVN traded down $0.02 during trading on Friday, reaching $1.21. The stock had a trading volume of 200 shares, compared to its average volume of 73,955. Novan has a fifty-two week low of $0.65 and a fifty-two week high of $3.49. The stock has a market capitalization of $32.15 million, a PE ratio of -0.54 and a beta of 3.21.
Novan, Inc, a clinical-stage biotechnology company, focuses on the development and commercialization of nitric oxide-based therapies to treat dermatological and oncovirus-mediated diseases. Its clinical stage product candidates include SB204, a topical monotherapy that is in Phase III pivotal clinical trials for the treatment of acne vulgaris; and SB206, a topical antiviral gel, which is in Phase III pivotal trials for the treatment of patients with external genital warts, and Phase II clinical trial for the treatment of molluscum contagiosum.
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