NovaBay Pharmaceuticals (NYSE:NBY) Research Coverage Started at StockNews.com

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

Separately, Ascendiant Capital Markets dropped their price target on 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 Trading Down 7.1 %

Shares of NovaBay Pharmaceuticals stock opened at $0.65 on Wednesday. The company has a fifty day simple moving average of $0.63 and a 200-day simple moving average of $0.64. The stock has a market cap of $3.18 million, a price-to-earnings ratio of -0.01 and a beta of 0.66. NovaBay Pharmaceuticals has a 12-month low of $0.36 and a 12-month high of $9.08.

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