NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Stock Has Average Target Price of $34.50

Shares of NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $34.50.

Several analysts recently issued reports on the stock. Zacks Research lowered shares of NRx Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NRx Pharmaceuticals in a research note on Wednesday, August 5th. Wall Street Zen cut shares of NRx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. UBS Group reissued a “buy” rating on shares of NRx Pharmaceuticals in a research report on Wednesday, August 26th. Finally, Wolfe Research assumed coverage on shares of NRx Pharmaceuticals in a research note on Thursday, October 15th. They issued an “outperform” rating on the stock.

Institutional Trading of NRx Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC raised its holdings in NRx Pharmaceuticals by 30.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 590,768 shares of the company’s stock valued at $1,725,000 after acquiring an additional 136,350 shares during the last quarter. AdvisorShares Investments LLC boosted its holdings in shares of NRx Pharmaceuticals by 28.2% during the first quarter. AdvisorShares Investments LLC now owns 420,467 shares of the company’s stock worth $896,000 after purchasing an additional 92,463 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of NRx Pharmaceuticals during the third quarter worth $364,000. SBI Securities Co. Ltd. grew its position in shares of NRx Pharmaceuticals by 292.1% in the third quarter. SBI Securities Co. Ltd. now owns 20,001 shares of the company’s stock valued at $58,000 after purchasing an additional 14,900 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of NRx Pharmaceuticals in the second quarter valued at $54,000. Hedge funds and other institutional investors own 4.27% of the company’s stock.

NRx Pharmaceuticals Trading Down 4.4%

NASDAQ:NRXP opened at $2.17 on Thursday. The company’s 50-day moving average price is $3.03 and its 200-day moving average price is $2.96. The company has a market cap of $93.95 million, a P/E ratio of -3.95 and a beta of 2.07. NRx Pharmaceuticals has a twelve month low of $1.62 and a twelve month high of $5.05.

NRx Pharmaceuticals (NASDAQ:NRXP) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.33). The firm had revenue of $1.10 million during the quarter, compared to analyst estimates of $1.33 million. On average, analysts expect that NRx Pharmaceuticals will post -1.14 earnings per share for the current year.

NRx Pharmaceuticals Company Profile

NRx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for central nervous system disorders, particularly severe depression and suicidal ideation. The company’s research programs are designed to address conditions in which existing therapies may have limited effectiveness or delayed onset.

NRx’s lead investigational product is NRX-101, an oral fixed-dose combination of D-cycloserine and lurasidone being developed for bipolar depression with acute suicidal ideation.