Information Provided By:
Fly News Breaks for March 28, 2017
NBY
Mar 28, 2017 | 08:53 EDT
Laidlaw analyst Jim Molloy initiated NovaBay with a Buy and a $10 price target saying it represents an exciting turnaround story since their new CEO Mark Sieczkarek transformed their commercial strategy at the beginning of 2016 from a buy and bill sales model to focusing on prescription sales through ophthalmologists. While NovaBay is solely focusing on U.S. Avenova sales for the moment, the approximately $30M recurring patients with blepharitis and dry eye alone attests to the impressive size of the market opportunity, the analyst wrote.