Nyxoah initiated with Neutral on U.S. ‘hurdles’ at Baird

Baird analyst David Rescott last night initiated coverage of Nyxoah with a Neutral rating and EUR 8 price target. Nyxoah’s platform, Genio, offers a differentiated obstructive sleep apnea therapy with the potential to gain share and expand into U.S. patients currently contraindicated, the analyst tells investors in a research note. However, the firm believes “key hurdles” ahead of U.S. commercialization remain. It awaits greater confidence that these hurdles are achievable to justify a more attractive risk/return in the shares.