Zacks Investment Research Downgrades Novus Therapeutics (NVUS) to Sell

Novus Therapeutics (NASDAQ:NVUS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Novus Therapeutics, Inc. is a pharmaceutical company. It focused on the acquisition, development and commercialization of ear, nose and throat products. The company’s platform consists of OP-01 Foam Platform and OP-02 Surfactant Program. Novus Therapeutics, Inc., formerly known as Tokai Pharmaceuticals Inc., is based in Irvine, United States. “

Several other equities analysts have also commented on the stock. ValuEngine upgraded shares of Novus Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. LADENBURG THALM/SH SH began coverage on shares of Novus Therapeutics in a research report on Tuesday, September 11th. They issued a “buy” rating and a $12.00 target price for the company.

Novus Therapeutics stock opened at $2.90 on Wednesday. The stock has a market cap of $29.30 million, a PE ratio of -1.27 and a beta of 0.79. Novus Therapeutics has a one year low of $2.90 and a one year high of $8.61.

Novus Therapeutics (NASDAQ:NVUS) last released its quarterly earnings results on Tuesday, November 13th. The biopharmaceutical company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.01. On average, research analysts expect that Novus Therapeutics will post -1.45 EPS for the current fiscal year.

In related news, President Catherine C. Turkel bought 33,680 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was purchased at an average price of $4.78 per share, for a total transaction of $160,990.40. Following the transaction, the president now directly owns 61,567 shares of the company’s stock, valued at approximately $294,290.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its position in Novus Therapeutics by 78.0% in the 2nd quarter. Renaissance Technologies LLC now owns 195,588 shares of the biopharmaceutical company’s stock valued at $1,369,000 after buying an additional 85,712 shares in the last quarter. National Asset Management Inc. grew its position in Novus Therapeutics by 345.9% in the 3rd quarter. National Asset Management Inc. now owns 45,000 shares of the biopharmaceutical company’s stock valued at $211,000 after buying an additional 34,908 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Novus Therapeutics by 73.5% in the 3rd quarter. Vanguard Group Inc. now owns 135,599 shares of the biopharmaceutical company’s stock valued at $633,000 after buying an additional 57,450 shares in the last quarter. Hedge funds and other institutional investors own 41.33% of the company’s stock.

Novus Therapeutics Company Profile

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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