NovaBay Pharmaceuticals, Inc. (NBY) Receives Average Recommendation of “Buy” from Brokerages
Shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) have been assigned a consensus rating of “Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $7.00.
Several equities analysts have recently issued reports on the stock. Maxim Group reaffirmed a “hold” rating on shares of NovaBay Pharmaceuticals in a research note on Saturday, May 13th. Roth Capital set a $6.00 price objective on shares of NovaBay Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised shares of NovaBay Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, HC Wainwright set a $6.00 price objective on shares of NovaBay Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 11th.
NovaBay Pharmaceuticals (NBY) traded up 1.62% during mid-day trading on Friday, hitting $4.70. 29,698 shares of the stock traded hands. NovaBay Pharmaceuticals has a 12-month low of $2.25 and a 12-month high of $5.09. The firm’s market cap is $71.95 million. The stock has a 50 day moving average price of $4.17 and a 200 day moving average price of $3.66.
NovaBay Pharmaceuticals (NYSE:NBY) last announced its quarterly earnings data on Thursday, August 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. The company had revenue of $4.12 million for the quarter, compared to analysts’ expectations of $4.57 million. NovaBay Pharmaceuticals had a negative net margin of 108.38% and a negative return on equity of 280.84%. On average, analysts expect that NovaBay Pharmaceuticals will post ($0.46) earnings per share for the current fiscal year.
About NovaBay Pharmaceuticals
NovaBay Pharmaceuticals, Inc, formerly NovaCal Pharmaceuticals, Inc, is a biopharmaceutical company, which develops products for the eye care market. The Company focuses on commercializing prescription Avenova for managing hygiene of the eyelids and lashes in the United States. Avenova is an eye care product formulated with a form of hypochlorous acid called Neutrox.
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