Our Stock of the Week is Beyond Air, Inc. (XAIR). XAIR develops nitric oxide delivery systems to treat respiratory and other diseases.
On June 28, the FDA approved XAIR’s LungFit PH system for the treatment of hypoxic respiratory failure in term and near-term neonates. The device uses the company’s Ionizer technology to generate unlimited, on-demand nitric oxide using ambient air.
XAIR’s CEO Steve Lisi commented, “The approval of LungFit PH validates our patented Ionizer technology and lays out a premarket approval model for our other LungFit platform devices, including LungFit PRO and LungFit GO. We believe that LungFit PH is just the first in a series of our medical devices that, if approved, will become available for treating a wide variety of respiratory diseases as we remain dedicated to our mission of harnessing the power of nitric oxide for all who can benefit from this transformational therapy.”
XAIR is demonstrating its LungFit PH product at the NeoHeart convention this week and is awaiting FDA approval for other indications. It should receive European approvals soon as well.
Four analysts have buy ratings on the stock in the last month, with a high target of $23 from Ladenburg and a low target of $13 from Oppenheimer. The average target price is $17.75. There also has been significant insider buying by management in recent years, with a buy of 175,000 shares by a director on July 5 at a price of around $6.45.
The chart has been developing very nicely, and we are looking for positive comments during the earnings call on August 11 to serve as a positive catalyst. We are looking for a move over the resistance level to bring in momentum buyers.
As always, we will not chase strength on Monday morning but will look to aggressively trade the stock into volatility.
This post is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this post. Do not buy, sell, or trade the stocks mentioned herein. We WILL actively trade this stock differently than discussed herein. We will sell into strength and will buy or sell at any time for any reason. We will actively trade into any unusual activity. At the time of this post, principals, employees, and affiliates of Shark Investing, Inc. and/or principals, clients, employees, and affiliates of Hammerhead Financial Strategies, LLC, directly or indirectly, controlled investment and/or trading accounts containing positions in XAIR To accommodate the objectives of these investing and/or trading accounts, the trading in these shares will be contrary to and/or inconsistent with the information contained in this posting.
