Grab Source And Key Details Here: Company Presentation.
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And as mentioned above, NBY has several potential catalysts that could help provide a breakout spark. Check these out:
No. 1 NBY Potential Catalyst - Explosive Volatility Potential From Tiny Float
According to the Yahoo Finance website, NBY has a tiny low float.
The website reports this profile to have approximately 3.93Mn shares in its float.
Why is that important? It's important on one crucial level. Volatility.
Could positive company news to close out 2023 provide a breakout spark?
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No. 2 NBY Potential Catalyst - Analyst Targets Could Suggest As Much As 1,400% Potential Upside
Edward Woo, an analyst at Ascendiant Capital Markets, has tagged NBY with a $9.50 price target.
From this past Friday's close, that provides NBY with an incredible upside potential of 1,400+%.
Here's some key highlights from his report:
- Avenova products sales: Avenova product sales were $2.2Mn. The company also had $1.3Mn of NeutroPhase and PhaseOne wound care product sales.
- DERMAdoctor contribution: DERMAdoctor sales were $1.1Mn.
- Adjusting 2023 estimates: We are adjusting our 2023 estimates for revenue to $16Mn, from $15Mn, and for EPS to $(2.50) from $(1.69).
- DERMAdoctor: In September 2021, NovaBay announced the acquisition ofprivately held DERMAdoctor for ~$12Mn (in cash). DERMAdoctor produce sand sells more than 30 products under lines that include Ain’t Misbehavin’, Calm Cool + Corrected, Kakadu C, KP Duty, and Wrinkle Revenge. Its product sare designed to address acne, aging skin, dark spots, dry skin, eczema, and many other skin conditions. DERMAdoctor sells its products through major retailers such as Macy’s, QVC, Costco, digital beauty retailers such as SkinStoreand Amazon, as well as its own website. DERMAdoctor also has a large and growing network of international distributors and retailers. DERMAdoctor’s management has joined the NovaBay management team.
- DERMAdoctor new focus: The company is now shifting its strategy in its skincare segment away from new product development to focus more on driving sales of top-selling products through its most efficient sales channels. As part of this, Dr. Jeff Kunin and Dr. Audrey Kunin (founders of DERMAdoctor) will retire in November 2023.
- Management long term positive: NovaBay is making good progress to market its Avenova product to the 41 million Americans ($600Mn market opp.) who suffer from blepharitis and related eye symptoms. In addition, the acquisition of DERMAdoctor allows strong growth and synergy opp's in the global market for cosmetic skincare products. NovaBay plans to launch a broad range of complementary eye and skin care products. The company also plans to leverage operational synergies and sales/distribution relationships.
- We remain positive: Despite st-ock and fi-nan-cial results volatility, we believe that NovaBay is a compelling ... story. The company’s focus in 2023 is to drive Avenova and DERMAdoctor sales to consumers by focusing on current products as well as new product launches.
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No. 3 NBY Potential Catalyst - A Massive Prime Day For Avenova-branded Products Breaks Unit Sales And Revenue Daily Records
NovaBay Pharmaceuticals Reports Record Avenova Sales Day
EMERYVILLE, Calif., July 14, 2023--(BUSINESS WIRE)--NovaBay® Pharmaceuticals, Inc. (NYSE American: NBY), a company developing and commercializing high-quality eyecare, skincare and wound care products, announces that sales of Avenova®-branded products reached a new record during the Amazon Prime Day event held July 11-12, 2023, with sales increasing 22% over Prime Day 2022 and 43% over Prime Day 2021.
"Sales of Avenova products during Prime Day 2023 were at an all-time high since we created our direct-to-consumer sales channel in 2019. Unit sales and revenue broke daily records, eclipsing all previous milestones," said Justin Hall, NovaBay CEO. "We are encouraged by this growth in our most important sales channel, and appreciate the loyalty of current Avenova users. We are excited to attract those new to the brand, many of whom we anticipate will become long-term customers."
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Read the full article here.
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No. 4 NBY Potential Catalyst - Company's Products Appear On Flagship Shopping Channel "QVC"
NovaBay Pharmaceuticals Announces DERMAdoctor’s KP Duty Lotion and Scrub Ultra Duo Set for Dry, Rough, Bumpy Skin to be Featured on QVC ...
EMERYVILLE, Calif., June 12, 2023--(BUSINESS WIRE)--NovaBay® Pharmaceuticals, Inc. (NYSE American: NBY), a company developing and commercializing high-quality eyecare, skincare and wound care products, announces that Chief Product Officer Dr. Audrey Kunin will appear on QVC®’s Girls Night In with Courtney & Jane on Tuesday, June 13, 2023 at 10:00 p.m. Eastern time to showcase DERMAdoctor®’s system for dry, rough, bumpy skin. ...
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Read the full article here.
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No. 5 NBY Potential Catalyst - Chinese Order Demonstrates Growing Presence In International Markets
NovaBay Pharmaceuticals Fulfills $1Mn Order for NeutroPhase® Skin and Wound Cleanser for China Pioneer Pharma Holdings
EMERYVILLE, Calif., May 01, 2023--(BUSINESS WIRE)--NovaBay Pharmaceuticals, Inc. (NYSE American: NBY) announces that China Pioneer Pharma Holdings, Limited (HK Stock Code:1345), a leading Chinese importer and marketer of branded pharmaceuticals and medical devices, has placed a $1Mn order for NovaBay’s NeutroPhase Skin and Wound Cleanser. NovaBay has fulfilled this order and expects to recognize this revenue in the second quarter of 2023.
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Read the full article here.
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NBY Recap - The Top Potential Catalysts For This NYSE American Past Champ
No. 1 - Explosive Volatility Potential From Tiny Float
No. 2 - Analyst Targets Could Suggest As Much As 1,400% Potential Upside
No. 3 - A Massive Prime Day For Avenova-branded Products Breaks Unit Sales And Revenue Daily Records
No. 4 - Company's Products Appear On Flagship Shopping Channel "QVC"
No. 5 - Chinese Order Demonstrates Growing Presence In International Markets
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Coverage is officially reinitiated on NBY. When time allows, do this:
