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

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

Separately, Ascendiant Capital Markets decreased their price target on shares of 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 Stock Performance

Shares of NBY opened at $0.71 on Monday. NovaBay Pharmaceuticals has a 1 year low of $0.36 and a 1 year high of $9.08. The company has a market capitalization of $3.49 million, a price-to-earnings ratio of -0.01 and a beta of 0.65. The company’s 50 day simple moving average is $0.62 and its 200 day simple moving average is $0.75.

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 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 company had revenue of $2.44 million for the quarter, compared to analysts’ expectations of $2.50 million. Equities analysts expect that NovaBay Pharmaceuticals will post -3.26 EPS 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.