H.C. Wainwright analyst Edward White reiterated a Buy rating on Nyxoah (NYXH – Research Report) today and set a price target of $15.00.
Edward White has given his Buy rating due to a combination of factors, primarily focusing on the promising outlook for Nyxoah’s Genio system. The Genio system, which is a unique bilateral neurostimulation therapy for treating obstructive sleep apnea, has received an Approvable Letter from the FDA, indicating a positive step towards full market approval expected in the second quarter of 2025. This development suggests that the company is on track to meet the FDA’s requirements, with no issues reported in the data provided for the Pre-Market Approval application.
Furthermore, Nyxoah has established a robust commercial infrastructure in the U.S., with a team ready to support the Genio system’s launch. The potential market size is substantial, with an estimated 510,000 patients in the U.S., translating to a $10 billion total addressable market. Edward White’s financial projections indicate significant sales growth, with a forecast of €97.1 million in 2027, supporting the $15 price target. These factors, combined with the company’s strategic positioning and market potential, underpin the Buy rating.
White covers the Healthcare sector, focusing on stocks such as Valneva, InflaRx, and Chimerix. According to TipRanks, White has an average return of -5.9% and a 32.27% success rate on recommended stocks.
In another report released on March 31, Oppenheimer also reiterated a Buy rating on the stock with a $13.00 price target.