StockNews.com Begins Coverage on NovaBay Pharmaceuticals (NYSE:NBY)

StockNews.com initiated coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a research note issued to investors on Monday. The brokerage issued a hold rating on the stock.

Separately, Ascendiant Capital Markets decreased their price target on NovaBay Pharmaceuticals from $8.00 to $0.85 and set a “buy” rating for the company in a report on Monday, November 11th.

NovaBay Pharmaceuticals Price Performance

NYSE NBY opened at $0.81 on Monday. NovaBay Pharmaceuticals has a 12 month low of $0.36 and a 12 month high of $9.08. The company has a 50-day moving average of $0.62 and a 200-day moving average of $0.75. The company has a market cap of $3.98 million, a P/E ratio of -0.02 and a beta of 0.65.

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

NovaBay Pharmaceuticals Company Profile

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.