Home > Novan (NOVN) stock price doubles in a day: should you buy shares?

Novan (NOVN) stock price doubles in a day: should you buy shares?

Novan (NASDAQ: NOVN) shares are certainly worth investigating further after their recent 130% surge.

Biotechnology companies are high-risk, high-reward investment ventures, and the same is true of Novan, Inc.

This article uncovers the value proposition that is available with this stock, explaining what it is, what its investment prospects are, and the best places to Novan shares online.

How & where to buy Novan stock online

The best place to invest in Novan, or any other publicly-traded company, is a stockbroker. These online, low-fee platforms allow retail investors to trade like a pro, creating their very own de-risked portfolio.

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What is Novan?

It is a clinical development-stage biotechnology company that aims to provide nitric oxide-based therapies to treat dermatological and oncovirus-mediated diseases.

NOVN’s stock price is rising thanks to positive topline results in its Phase 3 Trial of SB206 in Patients with Molluscum Contagiosum: a viral infection creating small, firm spots that have a dimple in the middle and can be itchy.

Should I buy NOVN shares?

That depends on what you are looking for from your investment. Biotech companies are inherently risky because they have to push their products through the extensive and rigorous testing process of the pharmaceutical authorities.

Things can go wrong at any stage, but if the company succeeds, it could be in for enormous rewards.

If you believe in the management team of NOVN and think its array of nitric oxide products can be commercially successful, it could be a promising (if risky) investment.

NOVN price target

At the high end of our 12-month NOVN price prediction, we forecast $45; for the median, $40; and the low, $20.

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