Piper Jaffray slashes price target on Novan Inc. [NOVN] – find out why.

Novan Inc. [NASDAQ: NOVN] loss -20.56% on the last trading session, reaching $0.78 price per share at the time. The company report on July 28, 2020 that Novan President and CEO, Paula Brown Stafford Named Chairman of the Board.

Novan, Inc. (“the Company” or “Novan”) (Nasdaq: NOVN), today announced an expanded role of Paula Brown Stafford, President and Chief Executive Officer (“CEO”) of Novan, to also include Chairman of Novan’s Board of Directors (“Board”). Concurrently, Robert Ingram is retiring as Executive Chairman and will continue as a member of the Board. These changes to the Board are effective as of today, July 28, 2020.

“Since Paula’s appointment as President and CEO of Novan, she has done a tremendous job leading the Company on multiple fronts, including securing the necessary capital to advance the upcoming B-SIMPLE4 pivotal trial, a major inflection point for the Company. She has a clear strategic vision, has demonstrated solid execution, and I believe will propel the Company forward through the next stage of growth. Having been a member of the Novan Board for nearly a decade, I along with my fellow Board members, felt strongly it was appropriate for Paula to assume the role of Chairman as she continues to lead and build momentum. Moving forward, I am pleased to remain a member of the Board and participate in the great strides and many opportunities we expect for the future,” commented Mr. Ingram.

Novan Inc. represents 80.79 million in outstanding shares, while the company has a total market value of $93.92 million with the latest information. NOVN stock price has been found in the range of $0.7556 to $0.945.

If compared to the average trading volume of 26.57M shares, NOVN reached a trading volume of 62524613 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Novan Inc. [NOVN]:

Piper Jaffray have made an estimate for Novan Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 06, 2020.

The Average True Range (ATR) for Novan Inc. is set at 0.15, with the Price to Sales ratio for NOVN stock in the period of the last 12 months amounting to 18.78.

Trading performance analysis for NOVN stock

Novan Inc. [NOVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -36.38. With this latest performance, NOVN shares gained by 67.99% in over the last four-week period, additionally plugging by 18.26% over the last 6 months – not to mention a drop of -68.95% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NOVN stock in for the last two-week period is set at 55.07, with the RSI for the last a single of trading hit 52.97, and the three-weeks RSI is set at 55.49 for Novan Inc. [NOVN]. The present Moving Average for the last 50 days of trading for this stock 0.5391, while it was recorded at 0.8568 for the last single week of trading, and 1.0228 for the last 200 days.

Novan Inc. [NOVN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Novan Inc. [NOVN] shares currently have an operating margin of -608.86. Novan Inc.’s Net Margin is presently recorded at -625.84.

Reflecting on the efficiency of the workforce at the company, Novan Inc. [NOVN] managed to generate an average of -$729,548 per employee. Receivables Turnover for the company is 23.37 with a Total Asset Turnover recorded at a value of 0.18.Novan Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.00.

Novan Inc. [NOVN]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Novan Inc. posted -0.69/share EPS, while the average EPS was predicted by analysts to be reported at -0.32/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -115.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NOVN.

An analysis of insider ownership at Novan Inc. [NOVN]

There are presently around $8 million, or 16.70% of NOVN stock, in the hands of institutional investors. The top three institutional holders of NOVN stocks are: SABBY MANAGEMENT, LLC with ownership of 4,438,159, which is approximately New of the company’s market cap and around 0.60% of the total institutional ownership; CVI HOLDINGS, LLC, holding 2,914,854 shares of the stock with an approximate value of $2.28 million in NOVN stocks shares; and VANGUARD GROUP INC, currently with $1.24 million in NOVN stock with ownership of nearly 152.831% of the company’s market capitalization.

Positions in Novan Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 16 institutional holders increased their position in Novan Inc. [NASDAQ:NOVN] by around 9,548,344 shares. Additionally, 10 investors decreased positions by around 449,187 shares, while 4 investors held positions by with 571,025 shares. The mentioned changes placed institutional holdings at 10,568,556 shares, according to the latest SEC report filing. NOVN stock had 9 new institutional investments in for a total of 8,475,185 shares, while 8 institutional investors sold positions of 444,703 shares during the same period.

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