NovaBay Pharmaceuticals (NYSE:NBY) Price Target Cut to $0.85 by Analysts at Ascendiant Capital Markets

NovaBay Pharmaceuticals (NYSE:NBY) had its target price decreased by Ascendiant Capital Markets from $8.00 to $0.85 in a report issued on Monday morning,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

Separately, StockNews.com initiated coverage on shares of NovaBay Pharmaceuticals in a research note on Saturday, November 9th. They issued a “hold” rating on the stock.

NovaBay Pharmaceuticals Price Performance

Shares of NovaBay Pharmaceuticals stock opened at $0.73 on Monday. NovaBay Pharmaceuticals has a one year low of $0.36 and a one year high of $12.08. The stock’s 50-day moving average is $0.64 and its 200 day moving average is $1.63. The firm has a market cap of $3.56 million, a price-to-earnings ratio of -0.01 and a beta of 0.73.

NovaBay Pharmaceuticals (NYSE:NBY) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($1.37) earnings per share for the quarter. The company had revenue of $2.40 million for the quarter. NovaBay Pharmaceuticals had a negative net margin of 102.72% and a negative return on equity of 7,293.78%. On average, sell-side analysts expect that NovaBay Pharmaceuticals will post -1.41 EPS for the current fiscal 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.