NRx Pharmaceuticals’ (NRXP) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of NRx Pharmaceuticals (NASDAQ:NRXP) in a report released on Wednesday,Benzinga reports. HC Wainwright currently has a $40.00 price target on the stock.

A number of other equities research analysts have also weighed in on the stock. Zacks Research upgraded shares of NRx Pharmaceuticals to a “hold” rating in a report on Wednesday, September 10th. BTIG Research restated a “buy” rating on shares of NRx Pharmaceuticals in a report on Monday, August 25th. Finally, D. Boral Capital restated a “buy” rating and issued a $34.00 price target on shares of NRx Pharmaceuticals in a report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.50.

NRx Pharmaceuticals Price Performance

Shares of NRXP opened at $3.27 on Wednesday. NRx Pharmaceuticals has a 1-year low of $1.10 and a 1-year high of $6.01. The company has a 50-day moving average of $2.77 and a 200 day moving average of $2.65. The firm has a market capitalization of $64.78 million, a price-to-earnings ratio of -1.46 and a beta of 1.74.

NRx Pharmaceuticals (NASDAQ:NRXP) last announced its quarterly earnings data on Monday, August 18th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.67). On average, equities analysts anticipate that NRx Pharmaceuticals will post -1.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of NRx Pharmaceuticals by 27.9% in the 2nd quarter. Geode Capital Management LLC now owns 172,255 shares of the company’s stock worth $562,000 after buying an additional 37,598 shares during the last quarter. Anson Funds Management LP grew its position in shares of NRx Pharmaceuticals by 535.1% in the 1st quarter. Anson Funds Management LP now owns 1,179,061 shares of the company’s stock worth $2,417,000 after buying an additional 993,401 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of NRx Pharmaceuticals in the 4th quarter worth approximately $56,000. Finally, Millennium Management LLC purchased a new position in shares of NRx Pharmaceuticals in the 4th quarter worth approximately $61,000. Hedge funds and other institutional investors 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.