Beyond Air (NASDAQ:XAIR – Get Free Report) had its target price dropped by investment analysts at Piper Sandler from $7.00 to $3.50 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 288.93% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Truist Financial lowered their price target on Beyond Air from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. BTIG Research cut Beyond Air from a “buy” rating to a “neutral” rating in a report on Tuesday.
Check Out Our Latest Stock Analysis on XAIR
Beyond Air Stock Performance
Beyond Air (NASDAQ:XAIR – Get Free Report) last issued its quarterly earnings results on Monday, June 24th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.11. The firm had revenue of $0.47 million for the quarter, compared to analyst estimates of $0.71 million. During the same quarter last year, the business posted ($0.67) earnings per share. On average, equities analysts forecast that Beyond Air will post -1.9 EPS for the current year.
Hedge Funds Weigh In On Beyond Air
A number of hedge funds have recently modified their holdings of XAIR. Keel Point LLC purchased a new position in shares of Beyond Air during the fourth quarter valued at $30,000. Scotia Capital Inc. purchased a new position in shares of Beyond Air during the third quarter valued at $31,000. DAVENPORT & Co LLC purchased a new position in shares of Beyond Air during the fourth quarter valued at $70,000. Wealth Effects LLC grew its holdings in shares of Beyond Air by 27.6% during the fourth quarter. Wealth Effects LLC now owns 444,000 shares of the company’s stock valued at $870,000 after buying an additional 96,150 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Beyond Air by 1.9% during the third quarter. Deutsche Bank AG now owns 407,565 shares of the company’s stock valued at $941,000 after purchasing an additional 7,565 shares during the last quarter. 31.50% of the stock is currently owned by institutional investors and hedge funds.
Beyond Air Company Profile
Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.
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