Research analysts at LADENBURG THALM/SH SH initiated coverage on shares of NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) in a report released on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $1.10 price target on the biopharmaceutical company’s stock. LADENBURG THALM/SH SH’s price objective indicates a potential upside of 39.24% from the stock’s previous close.
Shares of NovaBay Pharmaceuticals stock opened at $0.79 on Wednesday. NovaBay Pharmaceuticals has a twelve month low of $0.23 and a twelve month high of $4.04.
A hedge fund recently bought a new stake in NovaBay Pharmaceuticals stock. Jane Street Group LLC acquired a new stake in NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 37,287 shares of the biopharmaceutical company’s stock, valued at approximately $63,000. Jane Street Group LLC owned about 0.18% of NovaBay Pharmaceuticals at the end of the most recent reporting period.
NovaBay Pharmaceuticals, Inc, a biopharmaceutical company, develops, manufactures, and markets non-antibiotic and anti-infective products for the eye care market in the United States, China, and internationally. It offers Avenova, a prescription product for cleansing and removing foreign materials, including microorganisms and debris from skin around the eye; NeutroPhase for wound care market; CelleRx for the aesthetic dermatology market; Aganocide compounds patented synthetic molecules for use against bacteria, viruses, and fungi; auriclosene irrigation solution for urology; and intelli-Case, a device for soft and rigid gas permeable contact lenses.
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