Zacks Investment Research upgraded shares of NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) from a sell rating to a hold rating in a report issued 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. “
Other research analysts have also issued research reports about the stock. Laidlaw lowered their price target on shares of NovaBay Pharmaceuticals from $10.00 to $8.00 and set a buy rating for the company in a report on Wednesday, November 15th. HC Wainwright set a $6.00 price target on shares of NovaBay Pharmaceuticals and gave the stock a buy rating in a report on Wednesday, November 15th. Roth Capital set a $5.00 price target on shares of NovaBay Pharmaceuticals and gave the stock a buy rating in a report on Monday, October 23rd. lowered their price target on shares of NovaBay Pharmaceuticals from $10.00 to $8.00 and set a buy rating for the company in a report on Wednesday, November 15th. Finally, ValuEngine lowered shares of NovaBay Pharmaceuticals from a sell rating to a strong sell rating in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. NovaBay Pharmaceuticals currently has a consensus rating of Hold and an average price target of $6.40.
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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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