NovaBay Pharmaceuticals (NBY) PT Set at $5.00 by HC Wainwright

NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) has been assigned a $5.00 target price by stock analysts at HC Wainwright in a research note issued on Friday, May 11th. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 75.44% from the company’s current price.

A number of other equities research analysts also recently issued reports on NBY. Zacks Investment Research downgraded NovaBay Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, February 9th. Roth Capital downgraded NovaBay Pharmaceuticals from a “buy” rating to a “hold” rating and cut their price objective for the stock from $5.00 to $4.00 in a research report on Monday, March 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $6.00.

Shares of NovaBay Pharmaceuticals opened at $2.85 on Friday, MarketBeat Ratings reports. NovaBay Pharmaceuticals has a 1 year low of $2.25 and a 1 year high of $5.00.

NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) last announced its quarterly earnings data on Tuesday, March 20th. The biopharmaceutical company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.07. The firm had revenue of $6.32 million during the quarter, compared to the consensus estimate of $5.86 million. NovaBay Pharmaceuticals had a negative net margin of 59.81% and a negative return on equity of 389.40%.

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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