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

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

Separately, Ascendiant Capital Markets reduced 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 Stock Performance

NBY stock opened at $0.65 on Wednesday. NovaBay Pharmaceuticals has a one year low of $0.36 and a one year high of $9.08. The company has a fifty day moving average of $0.63 and a 200-day moving average of $0.64. The stock has a market capitalization of $3.18 million, a PE ratio of -0.01 and a beta of 0.66.

NovaBay Pharmaceuticals (NYSE:NBY) last announced 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 firm had revenue of $2.44 million during the quarter, compared to analyst estimates of $2.50 million. Equities analysts forecast that NovaBay Pharmaceuticals will post -3.26 earnings per share for the current fiscal 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.