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.

NOVN has been the subject of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $1.50 price objective (down previously from $6.00) on shares of Novan in a research report on Monday, January 6th. Piper Jaffray Companies downgraded shares of Novan from an “overweight” rating to a “neutral” rating and set a $0.50 price objective for the company. in a research report on Sunday, January 5th. Zacks Investment Research downgraded shares of Novan from a “hold” rating to a “sell” rating in a research report on Saturday, November 16th. Finally, ValuEngine downgraded shares of Novan from a “sell” rating to a “strong sell” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $1.75.

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.

About Novan

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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Earnings History and Estimates for Novan (NASDAQ:NOVN)

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