NovaBay Pharmaceuticals, Inc. (NBY) Issues Earnings Results

NovaBay Pharmaceuticals, Inc. (NYSE:NBY) posted its earnings results on Thursday. The company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.01, Morningstar.com reports. NovaBay Pharmaceuticals had a negative return on equity of 280.84% and a negative net margin of 108.38%. The company had revenue of $4.12 million for the quarter, compared to the consensus estimate of $4.57 million.

Shares of NovaBay Pharmaceuticals (NBY) opened at 4.35 on Friday. The stock’s market cap is $66.59 million. NovaBay Pharmaceuticals has a 12-month low of $2.25 and a 12-month high of $5.29. The company has a 50 day moving average price of $4.05 and a 200 day moving average price of $3.62.

A number of research firms have commented on NBY. Maxim Group restated a “hold” rating on shares of NovaBay Pharmaceuticals in a research report on Saturday, May 13th. HC Wainwright set a $6.00 target price on NovaBay Pharmaceuticals and gave the company a “buy” rating in a research report on Friday. Zacks Investment Research downgraded NovaBay Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Roth Capital set a $6.00 target price on NovaBay Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $7.00.

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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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