Wall Street is positive on Novan Inc (NOVN). On average, analysts give the stock a Strong Buy rating. The average price target is $3, which means analysts expect the stock to climb by 538.30% over the next twelve months.
That average ranking earns the stock an Analyst Rating of 80, which is better than 80% of stocks based on data compiled by InvestorsObserver.
Why are Analyst Ratings Important?
You can learn a lot about a company from looking at it’s financial statements and comparing them to other companies. Analysts who cover an industry in depth can add even more to your research though. They typically follow a particular sector or industry very closely. They also pay attention to and ask questions on earnings conference calls and other events where they might learn information that does show up in the numbers.
InvestorsObserver takes the average rating from these analysts, and then percentile ranks those averages. This lets you compare stocks in a much more granular way than just seeing the typical five-tiered rating system used on most of Wall Street.
What's Happening With Novan Inc Stock Today?
Novan Inc (NOVN) stock is trading at $0.47 as of 3:18 PM on Monday, Oct 12, an increase of $0.02, or 5.43% from the previous closing price of $0.44. The stock has traded between $0.44 and $0.47 so far today. Volume today is less active than usual. So far 3,325,217 shares have traded compared to average volume of 8,753,160 shares.
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