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Stock to Watch: Novabay Pharmaceuticals Up 8.6% (NBY)

Published on Mon, 04/01/2013 - 12:24
By Adrienne Chilton

Novabay Pharmaceuticals (AMEX:NBY) is one of today's best performing low-priced stocks, up 8.6% to $1.52 on 3.8x average daily volume. Thus far today, Novabay Pharmaceuticals has traded 921,000 shares, vs. average volume of 240,000 shares per day. The stock has outperformed the Dow (8.6% to the Dow's -0.0%) and outperformed the S&P 500 (8.6% to the S&P's -0.4%) during today's trading.

Potential upside of 48.0% exists for Novabay Pharmaceuticals, based on a current level of $1.52 and analysts' average consensus price target of $2.25. The stock should find initial support at its 200-day moving average (MA) of $1.25 and further support at its 50-day MA of $1.24.

Novabay Pharmaceuticals Inc. is a biopharmaceutical company focused on developing product candidates targeting the treatment or prevention of a wide range of infections in hospital and non-hospital environments. The Company has developed a class of antimicrobial compounds for use in the treatment and prevention of bacterial infections.

In the past 52 weeks, Novabay Pharmaceuticals share prices have been bracketed by a low of $0.88 and a high of $1.76 and are now at $1.52, 73% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.0%.

By Adrienne Chilton