In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on X4 Pharmaceuticals (XFOR – Research Report), with a price target of $1.50.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors, primarily focusing on X4 Pharmaceuticals’ strategic restructuring and potential market opportunities. The company announced a significant reduction in headcount and annual spending, aiming to refocus resources on developing mavorixafor for chronic neutropenia (CN) while optimizing its commercialization for WHIM syndrome. This streamlining approach is seen as a wise decision given the challenges associated with diagnosing and treating WHIM patients, as well as the high commercial costs involved.
The analyst believes that cutting down the commercial team will not have a major impact due to the small WHIM patient population, and that existing relationships with physicians could facilitate a successful launch for CN treatment. The company’s ongoing Phase 3 study, expected to complete enrollment by mid-2025, supports this view. Despite some adjustments in revenue projections and market entry timelines, the analyst maintains a positive outlook, projecting substantial revenue growth by 2031 and supporting a 12-month price target of $1.50 per share based on risk-adjusted net present value analysis.
According to TipRanks, Ramakanth is a 4-star analyst with an average return of 9.6% and a 40.88% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Eton Pharmaceuticals, AbSci, and Innate Pharma.