H.C. Wainwright Thinks X4 Pharmaceuticals’ Stock is Going to Recover

H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on X4 Pharmaceuticals (XFORResearch Report) today and set a price target of $21.00. The company’s shares closed last Tuesday at $5.66, close to its 52-week low of $5.21.

According to TipRanks.com, Ramakanth is a 5-star analyst with an average return of 26.5% and a 45.0% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals, Janux Therapeutics Inc, and Corvus Pharmaceuticals.

Currently, the analyst consensus on X4 Pharmaceuticals is a Strong Buy with an average price target of $19.50, a 227.2% upside from current levels. In a report released yesterday, Brookline Capital Markets also maintained a Buy rating on the stock with a $18.00 price target.

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Based on X4 Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $18.68 million. In comparison, last year the company earned revenue of $3 million and had a GAAP net loss of $11.14 million.

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X4 Pharmaceuticals, Inc. operates as a biotechnology company, which engages in developing human antibodies for treating infectious diseases. The company focuses on restoring healthy immune system function by developing novel therapeutics for the treatment of rare diseases. Its products in pipeline include X4P-001, X4P-002, and X4P-003. The company was founded by Henri A. Termeer, Keith T. Flaherty, Renato T. Skerlj, Richard Peters and Paula Ragan and is headquartered in Cambridge, MA.