-$0.31 EPS Expected for Novan Inc (NOVN) This Quarter

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.

A hedge fund recently raised its stake in Novan stock. Renaissance Technologies LLC increased its stake in shares of Novan Inc (NASDAQ:NOVN) by 52.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,700 shares of the company’s stock after purchasing an additional 30,700 shares during the quarter. Renaissance Technologies LLC owned 0.34% of Novan worth $250,000 at the end of the most recent quarter. 8.91% of the stock is owned by institutional investors.

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.

About Novan

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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Earnings History and Estimates for Novan (NASDAQ:NOVN)

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