Novan Inc (NOVN) Expected to Announce Earnings of -$0.55 Per Share

Brokerages predict that Novan Inc (NASDAQ:NOVN) will announce earnings per share of ($0.55) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Novan’s earnings. Novan posted earnings of ($0.82) per share in the same quarter last year, which indicates a positive year over year growth rate of 32.9%. The firm is expected to issue its next earnings report on Monday, March 19th.

On average, analysts expect that Novan will report full-year earnings of ($2.45) per share for the current year. For the next year, analysts forecast that the company will post earnings of ($1.58) per share. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Novan.

Separately, ValuEngine upgraded Novan from a “strong sell” rating to a “sell” rating in a research note on Sunday, December 31st.

A hedge fund recently bought a new stake in Novan stock. Goldman Sachs Group Inc. purchased a new stake in Novan Inc (NASDAQ:NOVN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,972 shares of the company’s stock, valued at approximately $105,000. Goldman Sachs Group Inc. owned 0.16% of Novan at the end of the most recent quarter. 3.54% of the stock is owned by hedge funds and other institutional investors.

Shares of Novan (NASDAQ:NOVN) opened at $3.44 on Thursday. Novan has a 12 month low of $2.82 and a 12 month high of $8.19.

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About Novan

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).

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Earnings History and Estimates for Novan (NASDAQ:NOVN)

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