NLS Pharmaceutics (NASDAQ:NCEL) Earns Buy Rating from Analysts at Laidlaw

Investment analysts at Laidlaw initiated coverage on shares of NLS Pharmaceutics (NASDAQ:NCEL) in a research note issued to investors on Monday,Benzinga reports. The brokerage set a “buy” rating and a $23.00 price target on the stock. Laidlaw’s price objective would indicate a potential upside of 448.93% from the stock’s current price.

Separately, Weiss Ratings restated a “sell (e)” rating on shares of NLS Pharmaceutics in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.00.

NLS Pharmaceutics Stock Performance

Shares of NASDAQ:NCEL opened at $4.19 on Monday. The business has a fifty day moving average of $3.45 and a 200-day moving average of $2.92. NLS Pharmaceutics has a twelve month low of $1.83 and a twelve month high of $28.03.

Insider Activity at NLS Pharmaceutics

In other news, Director Olivier Samuel bought 81,818 shares of the stock in a transaction on Monday, April 27th. The stock was purchased at an average price of $2.75 per share, with a total value of $224,999.50. Following the completion of the purchase, the director owned 81,818 shares of the company’s stock, valued at approximately $224,999.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michel Revel acquired 54,545 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average cost of $2.75 per share, for a total transaction of $149,998.75. Following the purchase, the director directly owned 957,530 shares in the company, valued at $2,633,207.50. This trade represents a 6.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 16.40% of the stock is owned by company insiders.

NLS Pharmaceutics Company Profile

NLS Pharmaceutics (NASDAQ: NCEL) is a clinical-stage biopharmaceutical company headquartered in Zurich, Switzerland, with additional operations in the United States. The company focuses on the development of small-molecule therapies designed to address disorders of the circadian rhythm and sleep-wake cycle. It leverages proprietary controlled-release and receptor-targeting approaches to optimize drug exposure over a 24-hour period.

The core of NLS Pharmaceutics’ pipeline consists of novel melatonin receptor agonists aimed at treating rare and orphan sleep disorders such as non-24-hour sleep-wake disorder and idiopathic hypersomnia.