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

Novan Inc. [NASDAQ: NOVN] closed the trading session at $2.55. The company report on February 1, 2021 that Novan Completes Enrollment in B-SIMPLE4 Pivotal Phase 3 Study of SB206 for Treatment of Molluscum.

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– Topline data on track for targeted readout before the end of Q2 2021 –.

– SB206, if approved, has the potential to meet an important need for the treatment of molluscum, an area with no current FDA-approved treatment –.

The stocks have a year to date performance of 213.65 percent and weekly performance of 79.58 percent. The stock has been moved at 356.66 percent over the last six months. The stock has performed 163.76 percent around the most recent 30 days and changed 412.56 percent over the most recent 3-months.

If compared to the average trading volume of 20.90M shares, NOVN reached to a volume of 31166372 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 0.24, with the Price to Sales ratio for NOVN stock in the period of the last 12 months amounting to 58.52. The Price to Book ratio for the last quarter was 42.50, with the Price to Cash per share for the same quarter was set at 0.36.

NOVN stock trade performance evaluation

Novan Inc. [NOVN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 79.58. With this latest performance, NOVN shares gained by 163.76% in over the last four-week period, additionally plugging by 356.66% over the last 6 months – not to mention a rise of 448.27% 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 85.43, with the RSI for the last a single of trading hit 89.83, and the three-weeks RSI is set at 82.25 for Novan Inc. [NOVN]. The present Moving Average for the last 50 days of trading for this stock 1.05, while it was recorded at 2.09 for the last single week of trading, and 0.64 for the last 200 days.

Novan Inc. [NOVN]: An insightful look at the core fundamentals

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 5.60 and a Current Ratio set at 5.60.

Earnings per share (EPS) analysis for Novan Inc. [NOVN] stock

With the latest financial reports released by the company, Novan Inc. posted 0.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.45/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 124.40%. 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.

Novan Inc. [NOVN]: Insider Ownership positions

There are presently around $35 million, or 10.50% of NOVN stock, in the hands of institutional investors. The top three institutional holders of NOVN stocks are: VANGUARD GROUP INC with ownership of 6,955,289, which is approximately 9.086% of the company’s market cap and around 8.94% of the total institutional ownership; BLACKROCK INC., holding 3,434,770 shares of the stock with an approximate value of $8.76 million in NOVN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $2.54 million in NOVN stock with ownership of nearly 205.606% of the company’s market capitalization.

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Positions in Novan Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 19 institutional holders increased their position in Novan Inc. [NASDAQ:NOVN] by around 5,839,469 shares. Additionally, 11 investors decreased positions by around 350,578 shares, while 6 investors held positions by with 7,348,957 shares. The mentioned changes placed institutional holdings at 13,539,004 shares, according to the latest SEC report filing. NOVN stock had 11 new institutional investments in for a total of 507,794 shares, while 6 institutional investors sold positions of 129,274 shares during the same period.

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