NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “NovaBay Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing innovative product candidates targeting the treatment or prevention of a wide range of infections in hospital and non-hospital environments. NovaBay has discovered and is developing a class of antimicrobial compounds, which it has named Aganocide compounds, which are based upon small molecules that are generated by white blood cells that defend the body against invading pathogens. NovaBay believes that Aganocide compounds could form a platform on which to create a variety of products to address differing needs in the treatment and prevention of bacterial and viral infections, including Methicillin-Resistant Staphylococcus aureus. “
A number of other research analysts also recently issued reports on the stock. Laidlaw cut their price objective on shares of NovaBay Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, November 15th. cut their price objective on shares of NovaBay Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, November 15th. HC Wainwright set a $6.00 price objective on shares of NovaBay Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, November 15th. ValuEngine downgraded shares of NovaBay Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, November 10th. Finally, Roth Capital set a $5.00 price objective on shares of NovaBay Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $6.40.
NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) last posted its earnings results on Tuesday, November 14th. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The business had revenue of $4.09 million for the quarter, compared to analysts’ expectations of $4.69 million. NovaBay Pharmaceuticals had a negative net margin of 59.81% and a negative return on equity of 389.40%.
NovaBay Pharmaceuticals Company Profile
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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