Wall Street Zen Downgrades Nyxoah (NASDAQ:NYXH) to Sell

Key Points

• Wall Street Zen downgraded Nyxoah to “sell” from “hold,” while the broader analyst consensus remains “hold” with an average price target of $5.26.
• Nyxoah shares opened at $1.47, near their one-year low of $1.26 and well below the $8.59 high; several analysts recently lowered their price targets, including Stifel to $3.00 and Piper Sandler to $6.00.
• The company reported a quarterly EPS loss of $0.67, missing estimates by $0.20, although revenue of $8.76 million slightly exceeded forecasts; analysts expect a full-year loss of $1.59 per share.

Nyxoah (NASDAQ:NYXH - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Sunday.

A number of other research firms have also recently commented on NYXH. Piper Sandler restated an "overweight" rating and issued a $6.00 price target (down from $7.00) on shares of Nyxoah in a report on Thursday. Oppenheimer set a $4.00 price target on Nyxoah in a research note on Thursday. Robert W. Baird set a $2.31 price objective on Nyxoah in a research note on Thursday. Stifel Nicolaus decreased their price objective on Nyxoah from $5.00 to $3.00 and set a "hold" rating for the company in a report on Wednesday, June 17th. Finally, Weiss Ratings cut Nyxoah from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Nyxoah has a consensus rating of "Hold" and a consensus price target of $5.26.

Nyxoah Stock Performance

Shares of NYXH opened at $1.47 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.38 and a quick ratio of 0.88. The company has a market cap of $56.98 million, a PE ratio of -0.58 and a beta of 1.62. The firm has a 50-day moving average of $1.66 and a 200-day moving average of $2.95. Nyxoah has a one year low of $1.26 and a one year high of $8.59.

Nyxoah (NASDAQ:NYXH - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.20). Nyxoah had a negative net margin of 443.16% and a negative return on equity of 178.90%. The business had revenue of $8.76 million for the quarter, compared to the consensus estimate of $8.64 million. As a group, equities analysts forecast that Nyxoah will post -1.59 earnings per share for the current year.

Institutional Investors Weigh In On Nyxoah

A number of institutional investors have recently added to or reduced their stakes in NYXH. Raymond James Financial Inc. lifted its position in shares of Nyxoah by 35.6% during the third quarter. Raymond James Financial Inc. now owns 12,762 shares of the company's stock worth $59,000 after acquiring an additional 3,353 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Nyxoah by 72.4% during the 2nd quarter. Bank of America Corp DE now owns 7,866 shares of the company's stock valued at $59,000 after purchasing an additional 3,303 shares during the period. Citadel Advisors LLC purchased a new stake in Nyxoah during the 3rd quarter worth about $98,000. Deutsche Bank AG boosted its stake in Nyxoah by 40.0% in the 4th quarter. Deutsche Bank AG now owns 35,000 shares of the company's stock worth $161,000 after purchasing an additional 10,000 shares during the period. Finally, Shay Capital LLC purchased a new position in Nyxoah during the 2nd quarter valued at about $374,000.

Nyxoah Company Profile

Nyxoah SA, headquartered in Mont-Saint-Guibert, Belgium, is a medical technology company focused on neuromodulation therapies for sleep‐disordered breathing. Established in 2018, the company's primary offering is the Genio® system, a minimally invasive bilateral hypoglossal nerve stimulator designed to treat moderate to severe obstructive sleep apnea (OSA). By electrically stimulating the genioglossus muscle, the device helps maintain airway patency during sleep, reducing apnea events and improving overall sleep quality.

The Genio system comprises a small, implantable stimulator positioned submentally and an external activation unit worn by the patient.

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