In a report released today, Ram Selvaraju from H.C. Wainwright downgraded NovaBay Pharma (NBY) to Hold, with a price target of $1.25. The company’s shares closed yesterday at $1.50.
Selvaraju commented:
“Our 12-month price target is derived from a market value of the firm at $31M, which includes a discounted cash flow based asset value for Avenova, using 15% discount rate and 2% terminal growth rate.”
According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -5.6% and a 37.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for NovaBay Pharma with a $1.25 average price target.
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The company has a one-year high of $3.85 and a one-year low of $0.71. Currently, NovaBay Pharma has an average volume of 23.23K.
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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.
