NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Receives $28.50 Consensus Price Target from Brokerages

NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) has received a consensus recommendation of “Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $28.50.

A number of research analysts have recently issued reports on NRXP shares. Ascendiant Capital Markets upped their price target on NRx Pharmaceuticals from $45.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. HC Wainwright reissued a “buy” rating and issued a $19.00 target price on shares of NRx Pharmaceuticals in a report on Thursday, March 20th. BTIG Research began coverage on NRx Pharmaceuticals in a report on Wednesday, April 2nd. They issued a “buy” rating and a $18.00 target price on the stock. Wall Street Zen raised NRx Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, D. Boral Capital reissued a “buy” rating and issued a $31.00 target price on shares of NRx Pharmaceuticals in a report on Friday.

NRx Pharmaceuticals Price Performance

Shares of NASDAQ:NRXP opened at $3.26 on Monday. The company has a market cap of $56.37 million, a P/E ratio of -1.62 and a beta of 1.54. NRx Pharmaceuticals has a 1 year low of $1.10 and a 1 year high of $6.01. The stock’s fifty day moving average price is $2.53 and its 200-day moving average price is $2.46.

NRx Pharmaceuticals (NASDAQ:NRXP) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.06. The business had revenue of $1.14 million for the quarter, compared to the consensus estimate of $1.14 million. On average, sell-side analysts anticipate that NRx Pharmaceuticals will post -1.75 earnings per share for the current year.

Institutional Trading of NRx Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of NRXP. Sassicaia Capital Advisers LLC purchased a new stake in NRx Pharmaceuticals in the fourth quarter worth about $33,000. Squarepoint Ops LLC purchased a new stake in NRx Pharmaceuticals in the fourth quarter worth about $56,000. Millennium Management LLC purchased a new stake in NRx Pharmaceuticals in the fourth quarter worth about $61,000. Anson Funds Management LP increased its position in NRx Pharmaceuticals by 30.3% in 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. Finally, AdvisorShares Investments LLC increased its position in NRx Pharmaceuticals by 138.5% in the fourth quarter. AdvisorShares Investments LLC now owns 310,314 shares of the company’s stock worth $683,000 after buying an additional 180,229 shares in the last quarter. Hedge funds and other institutional investors own 4.27% of the company’s stock.

NRx Pharmaceuticals Company Profile

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.