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

StockNews.com started coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a research report released on Thursday. The brokerage issued a hold rating on the stock.

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

NovaBay Pharmaceuticals Stock Up 2.9 %

Shares of NBY opened at $0.50 on Thursday. The business has a 50-day simple moving average of $0.63 and a two-hundred day simple moving average of $1.07. NovaBay Pharmaceuticals has a 52 week low of $0.36 and a 52 week high of $10.15. The stock has a market cap of $2.47 million, a price-to-earnings ratio of -0.01 and a beta of 0.69.

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.