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

StockNews.com began 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 cut their price objective 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 NYSE:NBY opened at $0.67 on Wednesday. The stock’s 50-day simple moving average is $0.62 and its two-hundred day simple moving average is $0.65. The stock has a market capitalization of $3.29 million, a price-to-earnings ratio of -0.01 and a beta of 0.67. NovaBay Pharmaceuticals has a 52-week low of $0.36 and a 52-week high of $9.08.

NovaBay Pharmaceuticals (NYSE:NBY) last posted its quarterly earnings data 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). NovaBay Pharmaceuticals had a negative return on equity of 7,293.78% and a negative net margin of 102.72%. The business had revenue of $2.44 million during the quarter, compared to analysts’ expectations of $2.50 million. As a group, equities analysts forecast that NovaBay Pharmaceuticals will post -3.26 earnings per share 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.