Roth Capital Starts Novan (NOVN) at Buy

April 22, 2021 8:33 AM EDT
Get Alerts NOVN Hot Sheet
Price: $10.87 +0.18%

Rating Summary:
    2 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 13 | New: 24
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Roth Capital analyst Jonathan Aschoff initiates coverage on Novan (NASDAQ: NOVN) with a Buy rating and a price target of $3.00.

The analyst comments "Clinical-stage Novan is engaged in discovering, developing, and ultimately commercializing novel, proprietary formulations of drugs containing nitric oxide (NO) as their active pharmaceutical ingredient. NOVN has drug development programs in dermatology, infectious disease, companion animal health, men’s and women’s health, and gastroenterology. We believe NOVN is on track to report Phase 3 results for key drug SB206 in molluscum contagiosum (MC) in 2Q21, and although our investment thesis rests entirely on this imminent event, we believe existing data predict success."

For an analyst ratings summary and ratings history on Novan click here. For more ratings news on Novan click here.

Shares of Novan closed at $1.20 yesterday.

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