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

Equities researchers at StockNews.com began coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a research report issued on Sunday. 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 research note on Monday, November 11th.

NovaBay Pharmaceuticals Stock Performance

NYSE NBY opened at $0.71 on Friday. NovaBay Pharmaceuticals has a one year low of $0.36 and a one year high of $12.07. The stock has a 50-day moving average of $0.64 and a 200 day moving average of $1.60. The company has a market capitalization of $3.50 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.