NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Given Consensus Recommendation of “Buy” by Brokerages

Shares of NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) have received a consensus rating of “Buy” from the six brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $34.50.

A number of equities analysts have commented on the stock. BTIG Research reaffirmed a “buy” rating on shares of NRx Pharmaceuticals in a research note on Monday, August 25th. HC Wainwright initiated coverage on shares of NRx Pharmaceuticals in a research note on Monday, September 8th. They issued a “buy” rating and a $40.00 price target on the stock. Zacks Research raised shares of NRx Pharmaceuticals to a “hold” rating in a research note on Wednesday, September 10th. Finally, D. Boral Capital reissued a “buy” rating and issued a $34.00 price target on shares of NRx Pharmaceuticals in a research note on Thursday.

Institutional Investors Weigh In On NRx Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in NRXP. Squarepoint Ops LLC purchased a new stake in shares of NRx Pharmaceuticals in the 4th quarter valued at approximately $56,000. Millennium Management LLC purchased a new stake in NRx Pharmaceuticals during the 4th quarter worth approximately $61,000. Geode Capital Management LLC increased its stake in NRx Pharmaceuticals by 27.9% during 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 period. Finally, Anson Funds Management LP increased its stake in NRx Pharmaceuticals by 535.1% during 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 period. 4.27% of the stock is owned by hedge funds and other institutional investors.

NRx Pharmaceuticals Trading Up 1.4%

NRXP opened at $2.95 on Wednesday. The firm has a market capitalization of $58.44 million, a PE ratio of -1.32 and a beta of 1.63. NRx Pharmaceuticals has a twelve month low of $1.10 and a twelve month high of $6.01. The firm’s 50-day moving average price is $2.74 and its 200 day moving average price is $2.62.

NRx Pharmaceuticals (NASDAQ:NRXP) last posted its quarterly earnings results 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). As a group, analysts predict that NRx Pharmaceuticals will post -1.75 earnings per share for the current fiscal year.

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.