Nyxoah’s Strategic Positioning and Growth Potential in the Obstructive Sleep Apnea Market

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’s rating is based on Nyxoah’s promising potential in the obstructive sleep apnea market, particularly with its innovative Genio system. The Genio device, which has already received CE Mark approval in Europe, is a unique leadless, bilateral neurostimulation therapy designed to treat moderate-to-severe obstructive sleep apnea. Despite a recent delay in FDA approval due to manufacturing data concerns, the company is actively engaging with the FDA to resolve these issues and anticipates a U.S. approval by the end of the first quarter of 2025.
Nyxoah’s strategic commercial preparations in the U.S., including a dedicated team of 50 professionals, position it well for a strong market entry once approval is secured. The U.S. market represents a significant opportunity, with an estimated total addressable market of $10 billion. Additionally, Nyxoah’s ongoing expansion in Europe and the Middle East, alongside its existing market penetration in countries like Germany and the UK, further supports the potential for substantial revenue growth. Although there are challenges in the European market, the company’s efforts to increase penetration and expand into new territories demonstrate a robust growth strategy.

In another report released on March 14, Stifel Nicolaus also maintained a Buy rating on the stock with a $15.00 price target.