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

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

Separately, Ascendiant Capital Markets decreased their price objective on shares of 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

Shares of NBY opened at $0.67 on Wednesday. The firm’s 50-day simple moving average is $0.62 and its two-hundred day simple moving average is $0.65. NovaBay Pharmaceuticals has a fifty-two week low of $0.36 and a fifty-two week high of $9.08. The stock has a market cap of $3.29 million, a PE ratio of -0.01 and a beta of 0.67.

NovaBay Pharmaceuticals (NYSE:NBY) last announced its quarterly 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 firm had revenue of $2.44 million during the quarter, compared to the consensus estimate of $2.50 million. NovaBay Pharmaceuticals had a negative return on equity of 7,293.78% and a negative net margin of 102.72%. Equities research analysts predict that NovaBay Pharmaceuticals will post -3.26 EPS 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.