NovaBay Pharmaceuticals (NBY) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) from a sell rating to a hold rating in a research note published on Thursday morning.

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. “

A number of other brokerages also recently issued reports on NBY. Laidlaw reduced their price objective on shares of NovaBay Pharmaceuticals from $10.00 to $8.00 and set a buy rating on the stock in a research note on Wednesday, November 15th. reduced their price objective on shares of NovaBay Pharmaceuticals from $10.00 to $8.00 and set a buy rating on the stock in a research note on Wednesday, November 15th. HC Wainwright set a $6.00 price objective on shares of NovaBay Pharmaceuticals and gave the stock a buy rating in a research note on Wednesday, November 15th. Roth Capital set a $5.00 price objective on shares of NovaBay Pharmaceuticals and gave the stock a buy rating in a research note on Monday, October 23rd. Finally, ValuEngine downgraded shares of NovaBay Pharmaceuticals from a sell rating to a strong sell rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $6.40.

Shares of NovaBay Pharmaceuticals (NYSEAMERICAN NBY) opened at $3.57 on Thursday. The stock has a market cap of $54.92, a PE ratio of -5.58 and a beta of -0.85. NovaBay Pharmaceuticals has a one year low of $2.25 and a one year high of $5.00.

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NovaBay Pharmaceuticals Company Profile

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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