Novan (NOVN) Upgraded at ValuEngine

ValuEngine upgraded shares of Novan (NASDAQ:NOVN) from a strong sell rating to a sell rating in a report released on Friday morning.

A number of other brokerages have also recently issued reports on NOVN. Zacks Investment Research upgraded shares of Novan from a sell rating to a hold rating in a report on Wednesday, October 4th. Wedbush restated a neutral rating and set a $6.00 price target on shares of Novan in a report on Monday, September 25th. Finally, Piper Jaffray Companies restated a buy rating on shares of Novan in a report on Thursday, August 3rd.

Shares of Novan (NOVN) traded down $0.15 during midday trading on Friday, hitting $4.86. 39,200 shares of the stock were exchanged, compared to its average volume of 221,519. Novan has a 52-week low of $3.52 and a 52-week high of $30.90.

An institutional investor recently bought a new position in Novan stock. Goldman Sachs Group Inc. purchased a new position in shares of Novan Inc. (NASDAQ:NOVN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,972 shares of the company’s stock, valued at approximately $105,000. Goldman Sachs Group Inc. owned about 0.16% of Novan as of its most recent filing with the Securities and Exchange Commission (SEC). 5.84% of the stock is owned by hedge funds and other institutional investors.

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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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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