Novus Therapeutics (NVUS) Stock Rating Lowered by Zacks Investment Research

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

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. “

Separately, ValuEngine raised Novus Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd.

NVUS opened at $4.35 on Tuesday. Novus Therapeutics has a 1 year low of $1.52 and a 1 year high of $8.61. The stock has a market capitalization of $39.37 million, a price-to-earnings ratio of -1.89 and a beta of 3.55.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVUS. Renaissance Technologies LLC raised its stake in shares of 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 purchasing an additional 85,712 shares during the period. National Asset Management Inc. grew its holdings in shares of Novus Therapeutics by 167.2% in the 4th quarter. National Asset Management Inc. now owns 120,219 shares of the biopharmaceutical company’s stock valued at $193,000 after acquiring an additional 75,219 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of 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 acquiring an additional 57,450 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of 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 acquiring an additional 57,450 shares in the last quarter. 42.24% of the stock is currently owned by hedge funds and other institutional investors.

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).

Featured Story: Backdoor Roth IRA Conversion and Strategy

Get a free copy of the Zacks research report on Novus Therapeutics (NVUS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Novus Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novus Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply