NovaBay Pharmaceuticals (NBY) upgraded to buy due to positive earnings outlook and analyst estimates

From Nasdaq: 2024-12-25 12:00:09

NovaBay Pharmaceuticals, Inc. (NBY) has been upgraded to a Zacks Rank #2 (Buy) due to an upward trend in earnings estimates. This change reflects positivity about its earnings outlook, potentially leading to buying pressure and a higher stock price. Rising earnings estimates for NBY show an improvement in the company’s business.

The Zacks rating system plays a crucial role in tracking earnings estimate revisions to make investment decisions. For the fiscal year ending December 2024, NBY is expected to earn -$0.17 per share, with analysts steadily raising their estimates by 87.9% over the past three months. The Zacks Rank #2 upgrade positions NBY in the top 20% of Zacks-covered stocks.

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Read more at Nasdaq: NovaBay Pharmaceuticals (NBY) Upgraded to Buy: Here’s Why