NovaBay Pharmaceuticals (NBY) Receiving Positive News Coverage, Study Finds
Press coverage about NovaBay Pharmaceuticals (NYSE:NBY) has been trending positive this week, according to AlphaOne Sentiment. AlphaOne, a unit of Accern, identifies negative and positive press coverage by monitoring more than 20 million blog and news sources in real time. AlphaOne ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. NovaBay Pharmaceuticals earned a media sentiment score of 0.44 on AlphaOne’s scale. AlphaOne also gave media stories about the company an impact score of 0 out of 100, meaning that recent press coverage is extremely unlikely to have an impact on the company’s share price in the immediate future.
Several equities research analysts have weighed in on NBY shares. Rodman & Renshaw started coverage on NovaBay Pharmaceuticals in a report on Monday, February 6th. They issued a “buy” rating and a $6.00 target price for the company. Zacks Investment Research cut NovaBay Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. Laidlaw started coverage on NovaBay Pharmaceuticals in a report on Monday, March 27th. They issued a “buy” rating and a $10.00 target price for the company. HC Wainwright set a $6.00 target price on NovaBay Pharmaceuticals and gave the stock a “buy” rating in a report on Sunday, March 26th. Finally, Maxim Group reiterated a “hold” rating on shares of NovaBay Pharmaceuticals in a report on Friday, March 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $7.33.
Shares of NovaBay Pharmaceuticals (NYSE:NBY) traded down 1.8618% during midday trading on Friday, hitting $3.3367. The company had a trading volume of 2,870 shares. NovaBay Pharmaceuticals has a 12 month low of $1.93 and a 12 month high of $5.29. The firm’s market capitalization is $51.01 million. The company has a 50-day moving average of $3.85 and a 200 day moving average of $3.92.
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About NovaBay Pharmaceuticals
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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