NovaBay Pharmaceuticals, Inc. (NYSE:NBY) Lowered to “Sell” at Zacks Investment Research
NovaBay Pharmaceuticals, Inc. (NYSE:NBY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “NovaBay Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing innovative product candidates targeting the treatment or prevention of a wide range of infections in hospital and non-hospital environments. NovaBay has discovered and is developing a class of antimicrobial compounds, which it has named Aganocide compounds, which are based upon small molecules that are generated by white blood cells that defend the body against invading pathogens. NovaBay believes that Aganocide compounds could form a platform on which to create a variety of products to address differing needs in the treatment and prevention of bacterial and viral infections, including Methicillin-Resistant Staphylococcus aureus. “
Several other equities research analysts have also recently issued reports on the stock. Roth Capital initiated coverage on shares of NovaBay Pharmaceuticals in a research note on Monday, June 5th. They set a “buy” rating and a $5.50 target price on the stock. Maxim Group reiterated a “hold” rating on shares of NovaBay Pharmaceuticals in a report on Saturday, May 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $7.00.
Shares of NovaBay Pharmaceuticals (NYSE:NBY) opened at 4.70 on Friday. NovaBay Pharmaceuticals has a 52 week low of $2.12 and a 52 week high of $5.29. The stock has a 50 day moving average of $3.68 and a 200 day moving average of $3.57. The stock’s market cap is $71.95 million.
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About NovaBay Pharmaceuticals
NovaBay Pharmaceuticals, Inc, formerly NovaCal Pharmaceuticals, Inc, is a biopharmaceutical company, which develops products for the eye care market. The Company focuses on commercializing prescription Avenova for managing hygiene of the eyelids and lashes in the United States. Avenova is an eye care product formulated with a form of hypochlorous acid called Neutrox.
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