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

Equities research analysts at StockNews.com began coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the stock.

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

NovaBay Pharmaceuticals Price Performance

NBY stock opened at $0.71 on Monday. The firm has a fifty day moving average price of $0.62 and a two-hundred day moving average price of $0.75. NovaBay Pharmaceuticals has a 1-year low of $0.36 and a 1-year high of $9.08. The firm has a market cap of $3.49 million, a price-to-earnings ratio of -0.01 and a beta of 0.65.

NovaBay Pharmaceuticals (NYSE:NBY) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) earnings per share 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 the consensus estimate of $2.50 million. NovaBay Pharmaceuticals had a negative net margin of 102.72% and a negative return on equity of 7,293.78%. As a group, analysts expect that NovaBay Pharmaceuticals will post -3.26 EPS 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.