Beyond Air price target lowered to $10 from $14 at Truist

Truist lowered the firm’s price target on Beyond Air to $10 from $14 and keeps a Buy rating on the shares. Beyond Air introduced revenue guidance, targeting $12M-$16M for FY25, and Truist thinks several catalysts ahead should make the guidance achievable, the analyst tells investors in a research note. The expected cash burn of $10M per quarter against a cash balance of $43M and financing availability of $22M should support operations through FY25, but does raise solvency concern before profitability, the firm adds.