On Friday, Stifel analysts adjusted their outlook on Nyxoah SA (NASDAQ: NYXH), reducing the price target to $15 from the previous $16 while retaining a Buy rating on the company’s stock. Currently trading at $10.86, the stock has shown strong momentum with a 28% gain over the past six months. The revision comes amidst expectations of an imminent FDA approval for Nyxoah’s Genio system, which treats obstructive sleep apnea. The analysts believe that the approval, anticipated by the end of March, could serve as a significant positive trigger for the stock’s performance. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available through their comprehensive research reports.
The company has indicated that discussions regarding the final label for Genio are in progress with the FDA. A favorable label, which would include data on supine sleep position and absence of contraindications related to Complete Concentric Collapse ( CCC (WA:CCCP)), is expected to further bolster the stock’s appeal.
Nyxoah’s recent quarterly revenue report showed figures below expectations, but this was somewhat counterbalanced by better-than-anticipated gross margins, which stand at 61.77%. The company maintains strong financial health with a comfortable current ratio of 5.28, indicating solid liquidity. Stifel’s analysts highlight that the primary focus for investors is the potential U.S. approval of Genio and the subsequent market penetration. InvestingPro subscribers can access detailed financial health scores and additional metrics that provide deeper insights into the company’s operational efficiency.
In preparation for the launch, Nyxoah has already trained over 75 U.S. physicians through clinical trials and has assembled a team of 25 sales representatives, with plans to potentially double this number by the end of 2025. The company has demonstrated strong revenue growth of 32.65% in the last twelve months, with a current market capitalization of $405.34 million. Stifel’s projections include a second-quarter 2025 approval for Genio in the U.S. and an estimated $10 million in revenue from U.S. Genio sales in the second half of the year, which would represent approximately 2% of the market share in a presumed duopoly with Inspire Medical (TASE:BLWV). The firm anticipates that Nyxoah’s market share will grow to 3% in 2026 and 7% in 2027.
In other recent news, Nyxoah has reported fourth-quarter sales for its Genio system at €1.3 million, down from €1.8 million the previous year. This figure excludes €0.6 million in deferred revenues from disposable patches, which would bring total revenue to €1.9 million, showing a 46% increase from the previous quarter. Despite falling short of analysts’ expectations, H.C. Wainwright’s Edward White maintains a Buy rating with a $17 price target, indicating confidence in Nyxoah’s future growth, particularly in Europe and the U.S. Piper Sandler also holds an optimistic view, assigning an ’Overweight’ rating with an $18 price target, based on projected 2026 sales. The firm believes that the hypoglossal nerve stimulation therapy market will remain robust, despite the recent FDA approval of Eli Lilly (NYSE:LLY)’s Zepbound medication. Nyxoah has recently launched its Genio system in the UK and announced its introduction to the Middle Eastern market. The company aims to expand further in Germany and the UK, with anticipated market growth in these regions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.