Analysts Expect Novan Inc (NOVN) Will Post Earnings of -$0.23 Per Share
Equities analysts predict that Novan Inc (NASDAQ:NOVN) will post earnings per share of ($0.23) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Novan’s earnings, with the lowest EPS estimate coming in at ($0.30) and the highest estimate coming in at ($0.15). Novan reported earnings per share of ($0.21) in the same quarter last year, which indicates a negative year-over-year growth rate of 9.5%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, May 21st.
According to Zacks, analysts expect that Novan will report full-year earnings of ($1.05) per share for the current financial year, with EPS estimates ranging from ($1.23) to ($0.87). For the next fiscal year, analysts forecast that the business will post earnings of ($0.84) per share, with EPS estimates ranging from ($0.95) to ($0.72). Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow Novan.
A number of equities research analysts have commented on NOVN shares. Zacks Investment Research cut shares of Novan from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. JMP Securities cut shares of Novan from an “outperform” rating to a “market perform” rating in a research note on Friday, March 29th. Finally, ValuEngine cut shares of Novan from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $6.75.
NASDAQ NOVN traded up $0.03 on Friday, reaching $1.41. 200 shares of the stock were exchanged, compared to its average volume of 1,109,337. Novan has a one year low of $0.65 and a one year high of $3.32.
Novan, Inc, a clinical-stage biotechnology company, focuses on the development and commercialization of nitric oxide-based therapies to treat dermatological and oncovirus-mediated diseases. Its clinical stage product candidates include SB204, a topical monotherapy that is in Phase III pivotal clinical trials for the treatment of acne vulgaris; and SB206, a topical antiviral gel, which is in Phase III pivotal trials for the treatment of patients with external genital warts, and Phase II clinical trial for the treatment of molluscum contagiosum.
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