Brokerages Set NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Target Price at $28.50

NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) has been assigned a consensus rating of “Buy” from the five analysts that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $28.50.

A number of brokerages recently issued reports on NRXP. D. Boral Capital reissued a “buy” rating and issued a $31.00 price objective on shares of NRx Pharmaceuticals in a research note on Monday. Wall Street Zen upgraded shares of NRx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Ascendiant Capital Markets raised their target price on shares of NRx Pharmaceuticals from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th.

Hedge Funds Weigh In On NRx Pharmaceuticals

A number of hedge funds have recently modified their holdings of NRXP. Sassicaia Capital Advisers LLC acquired a new position in shares of NRx Pharmaceuticals during the fourth quarter worth $33,000. AdvisorShares Investments LLC lifted its holdings in shares of NRx Pharmaceuticals by 138.5% during the fourth 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. Anson Funds Management LP lifted its holdings in shares of 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 purchasing an additional 43,135 shares during the period. Millennium Management LLC acquired a new position in shares of NRx Pharmaceuticals during the fourth quarter worth $61,000. Finally, Squarepoint Ops LLC bought a new position in NRx Pharmaceuticals during the fourth quarter worth $56,000. Institutional investors and hedge funds own 4.27% of the company’s stock.

NRx Pharmaceuticals Trading Down 7.9%

Shares of NRXP opened at $2.32 on Tuesday. NRx Pharmaceuticals has a 12 month low of $1.10 and a 12 month high of $6.01. The firm’s 50 day moving average is $3.10 and its 200-day moving average is $2.58. The stock has a market capitalization of $40.11 million, a PE ratio of -1.15 and a beta of 1.59.

NRx Pharmaceuticals (NASDAQ:NRXP) last announced its quarterly earnings data 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 firm had revenue of $1.14 million during the quarter, compared to the consensus estimate of $1.14 million. Equities research analysts predict that NRx Pharmaceuticals will post -1.75 earnings per share for the current fiscal year.

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.