Roth Capital Downgrades NovaBay Pharmaceuticals (NBY) to Neutral

Roth Capital downgraded NovaBay Pharmaceuticals (NYSE: NBY) from Buy to Neutral with a price target of $4.00 (from $5.00).

Analyst Scott Henry steps to the sideline pending the renewed prescription growth for the eyelid hygiene treatment Avenova. The analyst comments "The BKX dropped ~8% in the past two trading days and is now down ~3% YTD. Sentiment approached a bullish extreme to start the year, but recent weakness has helped unwind the crowded sector positioning to some degree. Q1 results should also be solid overall with potential upside to NIM and capital markets estimates offsetting sluggish loan growth. We are opportunistically upgrading USB to Outperform and are more aggressive buyers of WFC."

For an analyst ratings summary and ratings history on NovaBay Pharmaceuticals click here. For more ratings news on NovaBay Pharmaceuticals click here.

Shares of NovaBay Pharmaceuticals closed at $3.70 Friday.

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