Ascendiant Capital Markets Lowers NovaBay Pharmaceuticals (NYSE:NBY) Price Target to $0.85

NovaBay Pharmaceuticals (NYSE:NBY) had its target price reduced by research analysts at Ascendiant Capital Markets from $8.00 to $0.85 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Ascendiant Capital Markets’ price target suggests a potential upside of 8.96% from the company’s current price.

Separately, StockNews.com initiated coverage on NovaBay Pharmaceuticals in a research note on Saturday. They issued a “hold” rating for the company.

NovaBay Pharmaceuticals Stock Up 10.6 %

Shares of NovaBay Pharmaceuticals stock opened at $0.78 on Monday. The firm has a market cap of $3.81 million, a price-to-earnings ratio of -0.01 and a beta of 0.73. The company’s 50-day simple moving average is $0.62 and its 200-day simple moving average is $1.65. NovaBay Pharmaceuticals has a 52-week low of $0.36 and a 52-week high of $12.08.

NovaBay Pharmaceuticals (NYSE:NBY) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($1.37) EPS for the quarter. The company had revenue of $2.40 million during the quarter. NovaBay Pharmaceuticals had a negative net margin of 102.72% and a negative return on equity of 744.33%. Equities research analysts anticipate that NovaBay Pharmaceuticals will post -1.41 EPS for the current year.

NovaBay Pharmaceuticals Company Profile

NovaBay Pharmaceuticals, Inc, a biopharmaceutical company, develops and sells eyecare, skincare, and wound care products in the United States and internationally. It offers Avenova Spray, a solution for removing foreign materials, including microorganisms and debris from skin around the eye, such as the eyelid; and wound care products, which are used for cleansing and irrigation as part of surgical procedures, as well as treating certain wounds, burns, ulcers, and other injuries under the NeutroPhase and PhaseOne brands.