NovaBay Pharmaceuticals (NYSE:NBY) Given New $0.85 Price Target at Ascendiant Capital Markets

NovaBay Pharmaceuticals (NYSE:NBY) had its target price decreased by Ascendiant Capital Markets from $8.00 to $0.85 in a research report sent to investors on Monday,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

Separately, StockNews.com assumed coverage on shares of NovaBay Pharmaceuticals in a research note on Saturday. They issued a “hold” rating on the stock.

NovaBay Pharmaceuticals Price Performance

NBY stock opened at $0.73 on Monday. The business has a fifty day moving average price of $0.62 and a 200 day moving average price of $1.65. NovaBay Pharmaceuticals has a fifty-two week low of $0.36 and a fifty-two week high of $12.08. The stock has a market capitalization of $3.56 million, a price-to-earnings ratio of -0.01 and a beta of 0.73.

NovaBay Pharmaceuticals (NYSE:NBY) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($1.37) earnings per share for the quarter. NovaBay Pharmaceuticals had a negative return on equity of 744.33% and a negative net margin of 102.72%. The firm had revenue of $2.40 million for the quarter. On average, equities analysts expect that NovaBay Pharmaceuticals will post -1.41 earnings per share for the current fiscal 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.