Piper Sandler analyst Jason Bednar lowered the firm’s price target on Beyond Air to $1 from $3.50 and keeps an Overweight rating on the shares. The firm notes the company reported Q1 results, including revenue of $0.6M vs. Street’s $0.7M, an operating loss of ($13.5M) vs. Street’s and a loss per share of (27c). While the hospital contracting process continues to take longer than expected, there’s also evidence of green shoots, including an expansion of LungFit PH utilization in dozens of hospitals and an expanding pipeline of multi-year contracts, Piper says.
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