Zacks Investment Research Downgrades NovaBay Pharmaceuticals (NBY) to Sell
NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
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. “
Separately, HC Wainwright set a $4.00 target price on NovaBay Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 8th.
NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) last announced its quarterly earnings data on Wednesday, November 14th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The firm had revenue of $3.14 million during the quarter, compared to the consensus estimate of $4.09 million.
About NovaBay Pharmaceuticals
NovaBay Pharmaceuticals, Inc, a biopharmaceutical company, develops, manufactures, and markets non-antibiotic and anti-infective products for the eye care market in the United States, China, and internationally. It offers Avenova, a prescription product for cleansing and removing foreign materials, including microorganisms and debris from skin around the eye; NeutroPhase for wound care market; CelleRx for the aesthetic dermatology market; Aganocide compounds patented synthetic molecules for use against bacteria, viruses, and fungi; auriclosene irrigation solution for urology; and intelli-Case, a device for soft and rigid gas permeable contact lenses.
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