Beyond Air price target lowered to $3.50 from $7 at Piper Sandler

Piper Sandler lowered the firm’s price target on Beyond Air to $3.50 from $7 and keeps an Overweight rating on the shares following the Q4 report. The revenue shortfall was attributed to software upgrade delays among existing customers, the analyst tells investors in a research note. The firm says Beyond Air also lowered its fiscal 2025 revenue guidance and is implementing a capital preservation strategy to reduce the company’s cash burn, which includes a 20% headcount reduction and a narrowed focus on commercial execution in lieu of certain pipeline opportunities. Piper needs to see more tangible commercial progress in the next couple quarters to continue recommending the shares.