Novus Therapeutics (NVUS) Upgraded to Buy at ValuEngine

Novus Therapeutics (NASDAQ:NVUS) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Separately, LADENBURG THALM/SH SH began coverage on shares of Novus Therapeutics in a research report on Tuesday, September 11th. They set a “buy” rating and a $12.00 price objective for the company.

NVUS stock traded down $0.03 during trading on Thursday, reaching $3.33. 13,161 shares of the company were exchanged, compared to its average volume of 33,445. The stock has a market cap of $31.38 million, a price-to-earnings ratio of -1.45 and a beta of 0.39. Novus Therapeutics has a twelve month low of $3.12 and a twelve month high of $8.61.

Novus Therapeutics (NASDAQ:NVUS) last released its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.03). On average, analysts predict that Novus Therapeutics will post -1.22 EPS for the current fiscal year.

In related news, President Catherine C. Turkel acquired 33,680 shares of the stock in a transaction that occurred on Wednesday, September 12th. The stock was acquired at an average cost of $4.78 per share, for a total transaction of $160,990.40. Following the transaction, the president now directly owns 61,567 shares in the company, valued at $294,290.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.30% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in Novus Therapeutics stock. Renaissance Technologies LLC boosted its holdings in shares of Novus Therapeutics Inc (NASDAQ:NVUS) by 78.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,588 shares of the biopharmaceutical company’s stock after acquiring an additional 85,712 shares during the quarter. Renaissance Technologies LLC owned 2.08% of Novus Therapeutics worth $1,369,000 at the end of the most recent quarter. 41.29% of the stock is owned by institutional investors.

About Novus Therapeutics

Novus Therapeutics, Inc, a pharmaceutical company, focuses on developing products for patients with disorders of ear, nose, and throat. Its lead product is (OP-02), a surfactant-based combination drug product for patients at risk for, or with, otitis media (OM) (middle ear inflammation with or without infection).

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