Novan, Inc. (NASDAQ:NOVN) traded at $0.47 at last check on Tuesday, Jun 30, making a downturn move of -3.78% on its previous day’s price.
Looking at the stock we see that its previous close was $0.4891 and the beta (5Y monthly) reads -0.28 with the day’s price range being $0.4620 – 0.4875. In terms of its 52-week price range, NOVN has a high of $3.72 and a low of $0.215. The company’s stock has gained about 21.36% over that past 30 days.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $1.09 Million, with a low of $950Million and a high of $1.22 Million. The median projection represents growth adding up to -1% compared to sales earnings for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecasts for 2020 are expected to hit $4.82 Million, or -1.6% down from figures reported last year.
On the other hand, looking at the outlook for the NOVN stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 50% Sell.
Based on estimates by 1 analysts where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, none have rated the Novan, Inc. (NOVN) stock as a Hold, while 1 rate it as a Buy. None analysts rate it as outperform while none of them rated it as underperform, whereas none suggests the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the NOVN stock currently stands at 0, and the current price level is -4.79% off its SMA20 and 10.17% from its 50-day simple moving average. The RSI (14) is pointing at 49.87 while the volatility over the past week is 21.96% and drops to 20.92% over the past one month. The beta value is -0.27, while the average true range (ATR) is currently pointing at 0.09. The average price target for the stock over the next 12 months is $1.5, with the estimates having a low of $1.5 and a high of $1.5. These price ends are 219.15% and +219.15% off the current price level respectively, although investors could be excited at the prospect of a +219.15% if the NOVN share price touches on the median price of $1.5.
Let’s briefly compare Novan, (NOVN) stock to its peers. We find that today’s price change of -3.78% and -81.89% over the past 12 months for NOVN competes that of Zoetis Inc Cl A (ZTS), which has seen its stock price rise 2% in the latest trading session and is +16.29% over the last one year. Another of its peers Takeda Pharmaceutical Co. Ltd (TAK) has dropped -1.91% today, and is +2.32% up over the past year, while Grifols S.A. (GRFS) is also down -3.78% yet its price remains in the red at -81.89% over the same period. Zoetis has a P/E ratio of 39.26 compared to Novan,’s 0 and Takeda’s 22.32. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.04% and 0.46%, respectively, in early deals.
Coming back to Novan, Inc. (NASDAQ:NOVN), we note that the average 3-month trading volume was 13.72 Million, while that of the preceding 10-day period stands at 36.41 Million. Current shares outstanding are 80.79 Million.
According to data from Thomson Reuters, insiders hold 18.2% of the company’s shares while institutions hold 9.83%. The data shows that short shares as of June 14, 2020, stood at 1.61 Million at a short ratio of 0.11. This represents a 1.99% Short interest in Shares outstanding on June 14, 2020. Shares short dropped in June from the previous month at 878.24 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -84.52% down in year-to-date price movement.