Analysts forecast that Novan, Inc. (NASDAQ:NOVN) will post earnings of ($0.42) per share for the current quarter, according to Zacks. Four analysts have made estimates for Novan’s earnings, with estimates ranging from ($0.45) to ($0.39). Novan posted earnings per share of ($0.70) during the same quarter last year, which would indicate a positive year over year growth rate of 40%. The company is expected to report its next quarterly earnings results on Thursday, February 24th.
According to Zacks, analysts expect that Novan will report full year earnings of ($1.74) per share for the current fiscal year, with EPS estimates ranging from ($1.77) to ($1.69). For the next fiscal year, analysts expect that the firm will post earnings of ($1.89) per share, with EPS estimates ranging from ($2.52) to ($1.61). Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Novan.
Novan (NASDAQ:NOVN) last posted its quarterly earnings results on Wednesday, November 10th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.08. The business had revenue of $0.74 million during the quarter, compared to analysts’ expectations of $0.74 million. Novan had a negative net margin of 833.16% and a negative return on equity of 179.38%. During the same period last year, the company posted ($0.60) earnings per share.
NOVN has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Novan in a research report on Tuesday, September 21st. Brookline Capital Management reaffirmed a “buy” rating and set a $16.00 price objective on shares of Novan in a research report on Tuesday, October 19th.
NOVN traded down $0.19 during midday trading on Monday, hitting $4.16. 220,775 shares of the company’s stock traded hands, compared to its average volume of 1,630,394. The stock has a market capitalization of $78.27 million, a P/E ratio of -2.05 and a beta of -0.02. The company’s fifty day moving average price is $5.76. Novan has a one year low of $4.16 and a one year high of $25.90.
Institutional investors have recently added to or reduced their stakes in the stock. Liberty Wealth Management LLC bought a new position in shares of Novan in the second quarter valued at about $475,000. GSA Capital Partners LLP bought a new position in shares of Novan in the second quarter valued at about $136,000. Sabby Management LLC bought a new stake in Novan during the 2nd quarter worth about $192,000. B. Riley Wealth Management Inc. bought a new stake in Novan during the 2nd quarter worth about $193,000. Finally, Alyeska Investment Group L.P. bought a new stake in Novan during the 2nd quarter worth about $419,000. 22.25% of the stock is owned by institutional investors and hedge funds.
Novan Company Profile
Novan, Inc is a biotechnology company, which engages in leveraging nitric oxide’s natural antiviral and immunomodulatory mechanisms of action to treat dermatological and oncovirus-mediated diseases. Its products pipeline include SB204, SB206, SB208, and SB414. The company was founded by Mark Schoenfisch and Nathan Stasko in 2006 and is headquartered in Morrisville, NC.
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