Nyxoah price target raised to $15 from $10 at Piper Sandler

Piper Sandler raised the firm’s price target on Nyxoah to $15 from $10 and keeps an Overweight rating on the shares. The firm notes Nyxoah plans to release the full set of efficacy and safety data from the company’s U.S. pivotal trial by early April of this year. Piper believes the data if positive — and it is assuming 75%-80% probability of success — should position Nyxoah for a late 2024 FDA approval and commercial launch, making the company the second player to the U.S. HGNS market. While the stock has run year-to-date ahead of the upcoming data release, the firm still thinks current levels present an attractive entry point into the stock.