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

NovaBay Pharmaceuticals (NYSE:NBY) had its target price cut by Ascendiant Capital Markets from $8.00 to $0.85 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, StockNews.com started coverage on NovaBay Pharmaceuticals in a research report on Saturday, November 9th. They set a “hold” rating on the stock.

NovaBay Pharmaceuticals Trading Up 2.1 %

NBY opened at $0.73 on Monday. The company’s 50 day moving average is $0.64 and its 200-day moving average is $1.63. The company has a market cap of $3.56 million, a P/E ratio of -0.01 and a beta of 0.73. NovaBay Pharmaceuticals has a 1-year low of $0.36 and a 1-year high of $12.08.

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

About NovaBay Pharmaceuticals

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.