Zacks Investment Research cut shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) from a hold rating to a sell rating in a research report report 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 research firms also recently commented on NBY. Roth Capital set a $6.00 price objective on NovaBay Pharmaceuticals and gave the stock a buy rating in a research note on Tuesday, June 20th. Maxim Group reaffirmed a hold rating on shares of NovaBay Pharmaceuticals in a research note on Saturday, May 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $7.00.
NovaBay Pharmaceuticals (NYSE:NBY) last posted its quarterly earnings data on Thursday, August 10th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. NovaBay Pharmaceuticals had a negative return on equity of 280.84% and a negative net margin of 108.38%. The firm had revenue of $4.12 million for the quarter, compared to the consensus estimate of $4.57 million. On average, analysts predict that NovaBay Pharmaceuticals will post ($0.46) EPS for the current fiscal year.
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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