Beyond Air Shares Continue Rally as Analysts Raise Price Targets

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Beyond Air Shares Continue Rally as Analysts Raise Price Targets
Credit: © Reuters.

By Sam Boughedda

Investing.com — Shares of Beyond Air Inc (NASDAQ: XAIR ) have continued Friday's surge, currently trading around 10% higher.

After the medical device and pharmaceutical company reported earnings last Thursday, Truist and Oppenheimer analysts raised price targets for the stock.

Truist cited the FDA's review of the company's LungFit PH product progressing well, and Oppenheimer said that it was focusing on the company's PPHN launch. 

Truist analyst Gregory Fraser raised the price target on Beyond Air to $16 from $12, keeping a buy rating on the shares, while Oppenheimer analyst Suraj Kalia raised the firm's price target on the stock to $13 from $9, maintaining an outperform rating

Monday has seen Roth Capital join its colleagues, with analyst Scott Henry increasing the price target on Beyond Air shares to $15 from $11, keeping a buy rating, and saying that its earnings were "fundamentally as expected." 

The analyst also said that the company's nitric oxide therapy is underappreciated by investors, believing that Beyond Air is a leader in the technology. Henry also told investors that the Beyond Oncology spin-off was another reason for the price target change.

 

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