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

StockNews.com initiated coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a report released on Friday. The firm issued a hold rating on the stock.

Separately, Ascendiant Capital Markets dropped their target price on NovaBay Pharmaceuticals from $8.00 to $0.85 and set a “buy” rating for the company in a report on Monday, November 11th.

NovaBay Pharmaceuticals Price Performance

Shares of NovaBay Pharmaceuticals stock opened at $0.63 on Friday. The stock’s 50 day simple moving average is $0.64 and its 200-day simple moving average is $0.61. The stock has a market cap of $3.08 million, a P/E ratio of -0.01 and a beta of 0.67. NovaBay Pharmaceuticals has a 1-year low of $0.36 and a 1-year high of $9.08.

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.