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

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

Separately, StockNews.com began coverage on shares of NovaBay Pharmaceuticals in a research report on Saturday. They set a “hold” rating on the stock.

NovaBay Pharmaceuticals Stock Up 10.6 %

NBY opened at $0.78 on Monday. NovaBay Pharmaceuticals has a 52-week low of $0.36 and a 52-week high of $12.08. The company has a 50 day moving average of $0.62 and a two-hundred day moving average of $1.65. The company has a market cap of $3.81 million, a P/E ratio of -0.01 and a beta of 0.73.

NovaBay Pharmaceuticals (NYSE:NBY) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($1.37) earnings per share (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%. Research analysts anticipate that NovaBay Pharmaceuticals will post -1.41 earnings per share 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.