NovaBay Pharmaceuticals (NBY) Rating Lowered to Sell at Zacks Investment Research
Zacks Investment Research lowered shares of NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) from a hold rating to a sell rating in a report published on Friday.
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 analysts also recently weighed in on NBY. Roth Capital set a $5.00 price target on shares of NovaBay Pharmaceuticals and gave the company a buy rating in a research report on Monday, October 23rd. Laidlaw cut their price target 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 target on shares of NovaBay Pharmaceuticals and gave the company 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, cut their price target 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. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $6.40.
NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) last announced its quarterly earnings results on Tuesday, November 14th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The firm had revenue of $4.09 million during the quarter, compared to analyst estimates of $4.69 million. NovaBay Pharmaceuticals had a negative net margin of 59.81% and a negative return on equity of 389.40%.
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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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