Beyond Air, Inc. (NASDAQ:XAIR) Receives Average Rating of “Buy” from Analysts

Beyond Air, Inc. (NASDAQ:XAIR) has received a consensus recommendation of “Buy” from the six analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $12.20.

Several research analysts have commented on XAIR shares. Truist started coverage on shares of Beyond Air in a report on Wednesday, April 28th. They set a “buy” rating and a $12.00 price objective for the company. LADENBURG THALM/SH SH reissued a “buy” rating and set a C$17.00 price objective on shares of Beyond Air in a report on Tuesday. Roth Capital reissued a “buy” rating and set a C$11.00 price objective on shares of Beyond Air in a report on Tuesday. Zacks Investment Research downgraded shares of Beyond Air from a “hold” rating to a “sell” rating in a report on Wednesday, June 16th. Finally, Truist Securities began coverage on shares of Beyond Air in a report on Wednesday, April 28th. They set a “buy” rating and a $12.00 price objective for the company.

NASDAQ XAIR opened at $6.17 on Wednesday. The company’s 50-day moving average price is $5.27. Beyond Air has a twelve month low of $4.62 and a twelve month high of $7.87. The company has a quick ratio of 7.99, a current ratio of 7.99 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $135.13 million, a P/E ratio of -4.86 and a beta of -0.56.

Beyond Air (NASDAQ:XAIR) last posted its earnings results on Wednesday, June 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.07. Beyond Air had a negative return on equity of 133.04% and a negative net margin of 2,617.28%. Analysts expect that Beyond Air will post -0.92 earnings per share for the current year.

In related news, Director Robert Carey bought 350,000 shares of Beyond Air stock in a transaction dated Thursday, June 17th. The shares were acquired at an average cost of $5.36 per share, with a total value of $1,876,000.00. Following the completion of the transaction, the director now owns 481,418 shares in the company, valued at approximately $2,580,400.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 14.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of Beyond Air by 101.8% during the fourth quarter. Wells Fargo & Company MN now owns 7,121 shares of the company’s stock valued at $38,000 after purchasing an additional 3,592 shares in the last quarter. UBS Group AG boosted its stake in Beyond Air by 29.2% in the first quarter. UBS Group AG now owns 8,860 shares of the company’s stock valued at $49,000 after acquiring an additional 2,004 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in Beyond Air in the first quarter valued at approximately $62,000. Virtu Financial LLC acquired a new stake in Beyond Air in the fourth quarter valued at approximately $66,000. Finally, Credit Suisse AG acquired a new stake in Beyond Air in the fourth quarter valued at approximately $66,000. Hedge funds and other institutional investors own 22.17% of the company’s stock.

About Beyond Air

Beyond Air, Inc, a clinical-stage medical device and biopharmaceutical company, develops inhaled nitric oxide (NO) to treat respiratory infections, and gaseous NO to treat solid tumors. The company is developing LungFit system, a NO generator and delivery system, which is in clinical trials for the treatment of lung infections, persistent pulmonary hypertension of the newborn, severe acute respiratory syndrome coronavirus 2, bronchiolitis, and nontuberculous mycobacteria.The company was formerly known as AIT Therapeutics, Inc and changed its name to Beyond Air, Inc in June 2019.

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Analyst Recommendations for Beyond Air (NASDAQ:XAIR)

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