Beyond Air nears two-month high as BTIG starts at Buy

• Shares of Beyond Air (NASDAQ:XAIR) added ~6% on Thursday on above-average volume to approach the highest level since mid-April after BTIG launched its coverage with a Buy recommendation citing a “catalyst-rich pipeline.”
• 348.0K Beyond Air (XAIR) shares have changed hands compared to the 65-day average volume of ~330.5K as BTIG analyst Marie Thibault issued a $15 price target on the developer of LungFit therapeutic platform.
• “While there are risks to an investment in XAIR, including large competitors, we believe that as the company achieves its upcoming catalysts — sales ramp, regulatory wins, clinical studies — the technology platform’s value will gradually be recognized by investors,” Thibault wrote.
• Seeking Alpha analyst Zach Bristow reaffirmed his Hold rating on XAIR in February ahead of the company’s Q3 FY23 results which, however, fell short of expectations for earnings.

More on Beyond Air

• Beyond Cancer appoints Gavin Choy as COO
• Beyond Air: Sit Tight, Be Ready For Opportunistic Entry With LungFit PRO Updates