Justin Walsh, an analyst from JonesTrading, reiterated the Buy rating on Beyond Air. The associated price target was raised to $12.00.
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Justin Walsh has given his Buy rating due to a combination of factors that highlight the potential growth and market positioning of Beyond Air. The recent agreement with Premier, Inc., a major Group Purchasing Organization, is expected to enhance access to Beyond Air’s LungFit PH Smart Filters, potentially driving revenue growth. Although the agreement does not ensure adoption by Premier’s vast network of hospitals, the improved access could contribute to achieving revenue targets.
Furthermore, the company’s financial strategy, including adjustments for a reverse stock split and capital raises, supports a fair market capitalization estimate of $196 million. Beyond Air’s LungFit PH system, following FDA approval, is anticipated to capture a significant portion of the U.S. nitric oxide delivery market by fiscal year 2027. The company’s cash position is deemed sufficient to sustain operations into 2026, reinforcing the Buy rating with a price target of $12.
In another report released on July 17, D. Boral Capital also initiated coverage with a Buy rating on the stock with a $11.00 price target.