Nyxoah’s Strategic Expansion and U.S. Market Potential Drive Buy Rating

Analyst Edward White of H.C. Wainwright reiterated a Buy rating on Nyxoah (NYXH – Research Report), with a price target of $17.00.

Edward White has given his Buy rating due to a combination of factors including Nyxoah’s strategic market expansion and the anticipated approval of its Genio system in the U.S. market. Despite Genio’s 4Q24 sales being below expectations, the company has shown promising growth potential, with a significant increase in total revenue when accounting for deferred revenues. The commercial launches in the UK and Middle East highlight Nyxoah’s efforts to expand its international presence, tapping into new markets with substantial opportunities.
Furthermore, the potential U.S. approval of the Genio system by the end of 1Q25 is a pivotal factor in White’s positive outlook. Nyxoah’s preparation for the U.S. market, including a full commercial team and established CPT code, positions it well for a successful entry. The U.S. market represents a considerable opportunity, with an estimated addressable market of approximately 510,000 patients and a potential market capture of 40-50%. These strategic initiatives and market opportunities underpin White’s Buy rating for Nyxoah’s stock.

According to TipRanks, White is an analyst with an average return of -2.8% and a 34.47% success rate. White covers the Healthcare sector, focusing on stocks such as Valneva, Adicet Bio, and 60 Degrees Pharmaceuticals, Inc..

In another report released on March 10, Cantor Fitzgerald also maintained a Buy rating on the stock with a $16.00 price target.