NovaBay Pharmaceuticals, Inc. (NBY) Given Average Rating of “Hold” by Analysts

Shares of NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) have been assigned a consensus rating of “Hold” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $6.75.

Several analysts have issued reports on NBY shares. Zacks Investment Research cut NovaBay Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday. Roth Capital set a $5.00 price objective on NovaBay Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, October 23rd. Laidlaw cut their price objective on NovaBay Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, November 15th. HC Wainwright set a $6.00 price objective on NovaBay Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, November 15th. Finally, ValuEngine cut NovaBay Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, November 10th.

NovaBay Pharmaceuticals (NBY) opened at $3.57 on Friday. NovaBay Pharmaceuticals has a one year low of $2.25 and a one year high of $5.00. The company has a market capitalization of $55.38, a PE ratio of -5.58 and a beta of -0.85.

NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) last released its quarterly earnings results on Tuesday, November 14th. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.09). NovaBay Pharmaceuticals had a negative return on equity of 389.40% and a negative net margin of 59.81%. The business had revenue of $4.09 million during the quarter, compared to analyst estimates of $4.69 million.

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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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