$4.69 Million in Sales Expected for NovaBay Pharmaceuticals, Inc. (NBY) This Quarter
Wall Street analysts predict that NovaBay Pharmaceuticals, Inc. (NYSE:NBY) will announce $4.69 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for NovaBay Pharmaceuticals’ earnings. The lowest sales estimate is $4.28 million and the highest is $5.10 million. NovaBay Pharmaceuticals posted sales of $3.44 million in the same quarter last year, which suggests a positive year over year growth rate of 36.3%. The business is expected to report its next earnings report on Thursday, November 9th.
On average, analysts expect that NovaBay Pharmaceuticals will report full-year sales of $4.69 million for the current fiscal year, with estimates ranging from $17.70 million to $19.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $25.38 million per share, with estimates ranging from $22.77 million to $28.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow NovaBay Pharmaceuticals.
NovaBay Pharmaceuticals (NYSE:NBY) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The firm had revenue of $4.12 million during the quarter, compared to analysts’ expectations of $4.57 million. NovaBay Pharmaceuticals had a negative net margin of 42.16% and a negative return on equity of 184.30%.
Several analysts have issued reports on NBY shares. Zacks Investment Research lowered shares of NovaBay Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. HC Wainwright set a $6.00 price target on shares of NovaBay Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, August 11th. Maxim Group restated a “hold” rating on shares of NovaBay Pharmaceuticals in a research report on Friday, August 11th. Finally, Roth Capital set a $6.00 price target on shares of NovaBay Pharmaceuticals and gave the company a “buy” rating in a research report on Sunday, August 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $6.40.
Shares of NovaBay Pharmaceuticals (NYSE NBY) opened at $4.60 on Friday.
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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