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

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

Separately, Ascendiant Capital Markets dropped their price target on shares of NovaBay Pharmaceuticals from $8.00 to $0.85 and set a “buy” rating on the stock in a research note on Monday, November 11th.

NovaBay Pharmaceuticals Stock Performance

NovaBay Pharmaceuticals stock opened at $0.69 on Tuesday. The firm has a market cap of $3.40 million, a PE ratio of -0.01 and a beta of 0.65. The firm’s 50 day moving average price is $0.62 and its two-hundred day moving average price is $0.70. NovaBay Pharmaceuticals has a twelve month low of $0.36 and a twelve month high of $9.08.

NovaBay Pharmaceuticals (NYSE:NBY) last released 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 net margin of 102.72% and a negative return on equity of 7,293.78%. The company had revenue of $2.44 million during the quarter, compared to analyst estimates of $2.50 million. Equities analysts anticipate 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.