NovaBay Pharmaceuticals (NYSE:NBY) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a report issued on Tuesday morning. The brokerage issued a hold rating on the stock.

Separately, Ascendiant Capital Markets reduced their price objective on shares of NovaBay Pharmaceuticals from $8.00 to $0.85 and set a “buy” rating on the stock in a research note on Monday, November 11th.

NovaBay Pharmaceuticals Stock Performance

NBY stock opened at $0.65 on Tuesday. The stock’s 50 day moving average price is $0.62 and its 200 day moving average price is $0.70. The firm has a market cap of $3.19 million, a P/E ratio of -0.01 and a beta of 0.65. NovaBay Pharmaceuticals has a 1 year low of $0.36 and a 1 year high of $9.08.

NovaBay Pharmaceuticals (NYSE:NBY) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.32). NovaBay Pharmaceuticals had a negative net margin of 102.72% and a negative return on equity of 7,293.78%. The company had revenue of $2.44 million for the quarter, compared to analyst estimates of $2.50 million. On average, research analysts predict that NovaBay Pharmaceuticals will post -3.26 earnings per share for the current year.

About NovaBay Pharmaceuticals

NovaBay Pharmaceuticals, Inc, a biopharmaceutical company, develops and sells eyecare, skincare, and wound care products in the United States and internationally. It offers Avenova Spray, a solution for removing foreign materials, including microorganisms and debris from skin around the eye, such as the eyelid; and wound care products, which are used for cleansing and irrigation as part of surgical procedures, as well as treating certain wounds, burns, ulcers, and other injuries under the NeutroPhase and PhaseOne brands.