Roth assigns new buy rating to NovaBay
April 12, 2012 by stephenkilmer · Leave a Comment
Roth Capital Partners has re-established its estimates and assigned a Buy rating and $3.50 price target for NovaBay Pharmaceuticals (AMEX: NBY).
“We view NBY shares as undervalued based on our sum-of-the-parts DCF analysis,” writes analyst Yale Jen, Ph.D. “We believe potential rapid maturation of the product pipeline in multiple Phase III studies represents upside potential for shares.”
Two Distinct Anti-Infective Product Lines (Estimated Market Sizes)
In the BioTuesdays.com April 3 Feature, NovaBay CEO Dr. Ron Najafi said, “We’re heading toward several value inflection points with NeutroPhase and our Aganocide pipeline, which has the potential to become a logical and much needed alternative to traditional topical antibiotics that currently address large global markets.”
The Roth analyst expects FDA- approved NeutroPhase will commence revenue generation in late 2012.
