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Brookline Capital Markets Thinks Novan’s Stock is Going to Recover

In a report released today, Kemp Dolliver from Brookline Capital Markets reiterated a Buy rating on Novan (NOVNResearch Report), with a price target of $17.00. The company’s shares closed last Monday at $2.52, close to its 52-week low of $2.24.

According to TipRanks.com, Dolliver is ranked 0 out of 5 stars with an average return of -27.4% and a 15.0% success rate. Dolliver covers the Healthcare sector, focusing on stocks such as Verrica Pharmaceuticals, Fusion Pharmaceuticals, and POINT Biopharma Global.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Novan with a $23.67 average price target.

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The company has a one-year high of $20.74 and a one-year low of $2.24. Currently, Novan has an average volume of 127.6K.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NOVN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Novan, Inc. is a biotechnology company, which engages in leveraging nitric oxide’s natural antiviral and immunomodulatory mechanisms of action to treat dermatological and oncovirus-mediated diseases. Its products pipeline include SB204, SB206, SB208, and SB414. The company was founded by Mark Schoenfisch and Nathan Stasko in 2006 and is headquartered in Morrisville, NC.

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