BofA’s Hartnett says concentrated U.S. stock returns are likely to persist
On Friday, H.C. Wainwright increased its price target on X4 Pharmaceuticals (NASDAQ:XFOR) to $7.00, up from the previous $1.50, while reiterating a Buy rating on the stock. The firm’s decision followed X4 Pharmaceuticals’ announcement of its financial results for the first quarter of 2025 on May 1, along with a corporate update. The stock, currently trading at $3.75, has seen significant pressure recently, down 34% in the past week. According to InvestingPro data, analyst consensus remains strongly bullish with targets ranging from $45 to $120, suggesting potential upside from current levels.
X4 Pharmaceuticals is progressing with its Phase 3 4WARD study, which is assessing mavorixafor in combination with or without constant doses of G-CSF for treating various forms of chronic neutropenia (CN), including congenital, idiopathic, and autoimmune types. The company anticipates completing enrollment for the study by the second half of 2025, with expectations to release topline data in the second half of 2026. InvestingPro analysis shows the company maintains a healthy current ratio of 3.41, indicating strong ability to meet short-term obligations, though it’s currently experiencing rapid cash burn.
The company recently implemented a reverse stock split, which became effective on April 28, 2025. This corporate action has led to an adjustment in the price target. The adjustment reflects the new share count post-reverse split. The analyst from H.C. Wainwright has updated the price target to align with the current outstanding share count, while maintaining confidence in the company’s stock with a Buy rating.
The update from X4 Pharmaceuticals and the subsequent price target increase by H.C. Wainwright come as the company continues to advance its clinical program. The focus on mavorixafor as a potential treatment for chronic neutropenia is a significant part of the company’s strategy to address unmet medical needs in this patient population.
In other recent news, X4 Pharmaceuticals reported a notable earnings surprise for the first quarter of 2025. The company achieved an earnings per share (EPS) of $0.04, significantly outperforming the anticipated loss of $0.12. Revenue also exceeded expectations, reaching $28.81 million, largely driven by their partnership with Norgene. Additionally, X4 Pharmaceuticals announced a strategic restructuring aimed at reducing annual spending by $30-35 million. The company is advancing its clinical trials and market expansion efforts, with plans to complete enrollment for the FORWARD trial by late 2025. X4 Pharmaceuticals is also working towards securing European Medicines Agency (EMA) approval for a WHIM syndrome indication by early 2026. Despite these positive developments, the stock experienced a minor decline in premarket trading. The company remains focused on expanding its global reach and has sufficient cash reserves to support operations into the first half of 2026.
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