Ascendiant Capital Markets Boosts NRx Pharmaceuticals (NASDAQ:NRXP) Price Target to $46.00

NRx Pharmaceuticals (NASDAQ:NRXP) had its price objective raised by equities researchers at Ascendiant Capital Markets from $45.00 to $46.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock.

A number of other equities research analysts also recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of NRx Pharmaceuticals in a research note on Thursday, March 20th. BTIG Research initiated coverage on shares of NRx Pharmaceuticals in a report on Wednesday, April 2nd. They set a “buy” rating and a $18.00 price target on the stock. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $31.00 price target on shares of NRx Pharmaceuticals in a research report on Monday, March 31st. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $28.50.

NRx Pharmaceuticals Stock Performance

Shares of NRXP opened at $2.10 on Tuesday. NRx Pharmaceuticals has a 52 week low of $1.10 and a 52 week high of $6.01. The company has a market capitalization of $35.52 million, a PE ratio of -0.98 and a beta of 1.41. The company’s 50 day moving average price is $2.05 and its 200 day moving average price is $2.09.

NRx Pharmaceuticals (NASDAQ:NRXP) last posted its quarterly earnings results on Friday, March 14th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.10). On average, equities analysts forecast that NRx Pharmaceuticals will post -1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NRx Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sassicaia Capital Advisers LLC acquired a new position in NRx Pharmaceuticals during the 4th quarter valued at $33,000. AdvisorShares Investments LLC increased its holdings in shares of NRx Pharmaceuticals by 138.5% during the 4th quarter. AdvisorShares Investments LLC now owns 310,314 shares of the company’s stock worth $683,000 after purchasing an additional 180,229 shares during the period. Millennium Management LLC acquired a new position in shares of NRx Pharmaceuticals during the fourth quarter valued at about $61,000. Squarepoint Ops LLC bought a new stake in shares of NRx Pharmaceuticals in the fourth quarter valued at about $56,000. Finally, Anson Funds Management LP grew its position in NRx Pharmaceuticals by 30.3% during the fourth quarter. Anson Funds Management LP now owns 185,660 shares of the company’s stock worth $408,000 after buying an additional 43,135 shares in the last quarter. Institutional investors and hedge funds own 4.27% of the company’s stock.

About NRx Pharmaceuticals

NRx Pharmaceuticals, Inc, a clinical-stage bio-pharmaceutical company, develops novel therapeutics for the treatment of central nervous system disorders, including suicidal depression, post-traumatic stress disorder, and chronic pain. Its products include NRX-101 (D-cycloserine/Lurasidone), an oral, fixed dosed combination of D-cycloserine and lurasidone that earned food and drug administration-designated breakthrough therapy for suicidal treatment-resistant bipolar depression; and NRX-100 (ketamine), which has been awarded FDA fast track designation for the treatment of severe bipolar depression with acute suicidal ideation and behavior.