Beyond Air (NASDAQ:XAIR) Receives Buy Rating from D. Boral Capital

Beyond Air (NASDAQ:XAIR)‘s stock had its “buy” rating reissued by equities research analysts at D. Boral Capital in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $10.00 target price on the stock.

Other analysts have also recently issued reports about the company. Weiss Ratings reissued a “sell (e)” rating on shares of Beyond Air in a research note on Monday, December 22nd. Rodman & Renshaw initiated coverage on Beyond Air in a research report on Tuesday, January 20th. They set a “buy” rating for the company. Finally, Wall Street Zen upgraded Beyond Air to a “sell” rating in a report on Saturday, March 7th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Beyond Air presently has a consensus rating of “Hold” and an average price target of $10.00.

Beyond Air Trading Down 3.0%

NASDAQ:XAIR opened at $0.81 on Wednesday. The firm has a market capitalization of $8.48 million, a P/E ratio of -0.15 and a beta of 0.41. The company has a quick ratio of 4.77, a current ratio of 5.12 and a debt-to-equity ratio of 2.65. The company has a fifty day moving average of $1.15 and a 200 day moving average of $1.55. Beyond Air has a 52 week low of $0.67 and a 52 week high of $6.40.

Beyond Air (NASDAQ:XAIR) last announced its quarterly earnings results on Friday, February 13th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.31). Beyond Air had a negative return on equity of 268.82% and a negative net margin of 447.75%.The firm had revenue of $2.19 million during the quarter, compared to the consensus estimate of $2.15 million. On average, research analysts predict that Beyond Air will post -0.79 earnings per share for the current year.

Institutional Investors Weigh In On Beyond Air

Institutional investors and hedge funds have recently modified their holdings of the stock. Alpine Global Management LLC bought a new stake in shares of Beyond Air during the 3rd quarter valued at about $25,000. Virtu Financial LLC purchased a new position in shares of Beyond Air during the third quarter valued at about $48,000. Geode Capital Management LLC raised its stake in Beyond Air by 57.5% in the fourth quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock worth $49,000 after buying an additional 24,695 shares in the last quarter. Osaic Holdings Inc. raised its stake in Beyond Air by 26.4% in the second quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock worth $29,000 after buying an additional 34,000 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in Beyond Air in the third quarter worth about $1,753,000. 31.50% of the stock is owned by hedge funds and other institutional investors.

About Beyond Air

Beyond Air, Inc is a clinical-stage medical technology company focused on the development and commercialization of inhaled nitric oxide (NO) therapy for pulmonary and respiratory diseases. The company’s proprietary LungFit® platform delivers pulsed, low-dose nitric oxide gas through compact, portable devices designed to support treatments in both inpatient and outpatient settings. Beyond Air’s approach leverages NO’s antimicrobial, vasodilatory and anti-inflammatory properties to address a range of unmet needs in respiratory medicine.

The company’s lead candidate, LungFit® PH, is under investigation for the treatment of pulmonary hypertension, with ongoing clinical studies assessing its impact on pulmonary arterial pressure and exercise capacity.