NovaBay Pharmaceuticals, Inc. (NYSE:NBY) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) from a hold rating to a sell rating in a research note published on Saturday, August 5th.

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. “

Several other equities research analysts have also issued reports on the stock. Roth Capital set a $6.00 target price on shares of NovaBay Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, June 20th. Maxim Group reissued a hold rating on shares of NovaBay Pharmaceuticals in a research note on Saturday, May 13th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $7.00.

NovaBay Pharmaceuticals (NYSE NBY) traded up 1.62% during trading on Friday, reaching $4.70. 29,698 shares of the company were exchanged. The company’s market capitalization is $71.95 million. The firm’s 50-day moving average is $4.17 and its 200 day moving average is $3.66. NovaBay Pharmaceuticals has a one year low of $2.25 and a one year high of $5.09.

NovaBay Pharmaceuticals (NYSE:NBY) last announced its earnings results on Thursday, August 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. NovaBay Pharmaceuticals had a negative net margin of 108.38% and a negative return on equity of 280.84%. The business had revenue of $4.12 million during the quarter, compared to analyst estimates of $4.57 million. On average, analysts anticipate that NovaBay Pharmaceuticals will post ($0.46) EPS for the current fiscal year.

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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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