H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on NovaBay Pharma (NYSE: NBY) today and set a price target of $5. The company’s shares closed yesterday at $3.
According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -6.6% and a 37.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
NovaBay Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $5.
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Based on NovaBay Pharma’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $793K. In comparison, last year the company had a GAAP net loss of $4.01 million.
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NovaBay Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in commercializing and developing products for eye care. Its products include Avenova, NeutroPhase, and CelleRx. The comapny was founded by Ramin Najafi on January 19, 2000 and is headquartered in Emeryville, CA.
