StockNews.com Initiates Coverage on NovaBay Pharmaceuticals (NYSE:NBY)

Investment analysts at StockNews.com started coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the stock.

Separately, Ascendiant Capital Markets reduced their price target on shares of NovaBay Pharmaceuticals from $8.00 to $0.85 and set a “buy” rating for the company in a report on Monday, November 11th.

NovaBay Pharmaceuticals Price Performance

NBY stock opened at $0.61 on Monday. The company has a 50-day moving average of $0.67 and a two-hundred day moving average of $1.49. NovaBay Pharmaceuticals has a 52-week low of $0.36 and a 52-week high of $11.45. The stock has a market capitalization of $2.98 million, a price-to-earnings ratio of -0.01 and a beta of 0.73.

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.