NovaBay Pharmaceuticals, Inc. (NBY) Receives Average Recommendation of “Buy” from Analysts
Shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) have been given a consensus rating of “Buy” by the six brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $6.75.
Several research analysts recently commented on NBY shares. HC Wainwright set a $6.00 price target on NovaBay Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, August 11th. Roth Capital set a $5.00 price target on NovaBay Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, October 23rd. Zacks Investment Research raised NovaBay Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Thursday, September 21st. Finally, Maxim Group reissued a “hold” rating on shares of NovaBay Pharmaceuticals in a research report on Friday, August 11th.
NovaBay Pharmaceuticals (NYSE:NBY) last issued its quarterly earnings results on Thursday, August 10th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01. NovaBay Pharmaceuticals had a negative return on equity of 184.30% and a negative net margin of 42.16%. The firm had revenue of $4.12 million during the quarter, compared to analysts’ expectations of $4.57 million.
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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