Novan Inc (NASDAQ:NOVN) Expected to Post Quarterly Sales of $1.10 Million
Equities research analysts expect Novan Inc (NASDAQ:NOVN) to announce sales of $1.10 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Novan’s earnings. Novan posted sales of $4.04 million in the same quarter last year, which suggests a negative year over year growth rate of 72.8%. The company is expected to announce its next earnings report on Wednesday, March 25th.
According to Zacks, analysts expect that Novan will report full year sales of $4.61 million for the current financial year, with estimates ranging from $4.60 million to $4.62 million. For the next year, analysts expect that the company will post sales of $4.40 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Novan.
Novan (NASDAQ:NOVN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.10. The company had revenue of $1.32 million during the quarter, compared to analyst estimates of $1.20 million.
Shares of NASDAQ:NOVN traded up $0.01 during trading on Friday, reaching $0.48. 302,284 shares of the company’s stock traded hands, compared to its average volume of 982,097. Novan has a 12 month low of $0.41 and a 12 month high of $3.72. The company has a 50 day moving average of $0.99 and a 200-day moving average of $2.06. The stock has a market capitalization of $12.69 million, a P/E ratio of -0.48 and a beta of 2.30.
Several large investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in Novan in the 3rd quarter worth about $33,000. Millennium Management LLC bought a new position in Novan in the 3rd quarter worth about $44,000. Vigilant Capital Management LLC bought a new position in Novan in the 4th quarter worth about $89,000. Cardinal Capital Management bought a new position in Novan in the 4th quarter worth about $158,000. Finally, Prospera Financial Services Inc grew its position in Novan by 11.8% in the 3rd quarter. Prospera Financial Services Inc now owns 95,435 shares of the company’s stock worth $246,000 after purchasing an additional 10,083 shares during the last quarter. 5.85% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading: What is the Shanghai Stock Exchange Composite Index?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Novan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novan and related companies with MarketBeat.com's FREE daily email newsletter.