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

Key Points

• Analysts have a mixed view of NRx Pharmaceuticals, with two sell ratings and five buy ratings producing an overall “Hold” consensus and an average 12-month price target of $34.50.
• NRXP was trading at $2.90, with a 52-week range of $1.62 to $5.05 and a market capitalization of approximately $125.6 million.
• The company reported a quarterly EPS loss of $0.44, significantly worse than the $0.11 consensus estimate, while revenue of $1.10 million fell short of the $1.33 million forecast.

NRx Pharmaceuticals, Inc. (NASDAQ:NRXP - Get Free Report) has been given an average rating of "Hold" by the seven ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $34.50.

NRXP has been the subject of a number of analyst reports. Wall Street Zen downgraded NRx Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of NRx Pharmaceuticals in a research note on Wednesday, August 5th. HC Wainwright reissued a "buy" rating on shares of NRx Pharmaceuticals in a research report on Tuesday, August 25th. Zacks Research cut shares of NRx Pharmaceuticals from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 26th. Finally, BTIG Research reiterated a "buy" rating and set a $10.00 target price on shares of NRx Pharmaceuticals in a research note on Monday, September 14th.

NRx Pharmaceuticals Trading Up 1.8%

NRx Pharmaceuticals stock opened at $2.90 on Friday. NRx Pharmaceuticals has a twelve month low of $1.62 and a twelve month high of $5.05. The stock's fifty day simple moving average is $3.32 and its 200-day simple moving average is $3.31. The firm has a market capitalization of $125.57 million, a P/E ratio of -5.27 and a beta of 2.07.

NRx Pharmaceuticals (NASDAQ:NRXP - Get Free Report) last released its 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 company had revenue of $1.10 million during the quarter, compared to analysts' expectations of $1.33 million. Sell-side analysts predict that NRx Pharmaceuticals will post -0.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NRXP. Ethos Financial Group LLC raised its position in shares of NRx Pharmaceuticals by 33.6% during the 1st quarter. Ethos Financial Group LLC now owns 15,900 shares of the company's stock worth $34,000 after acquiring an additional 4,000 shares in the last quarter. Squarepoint Ops LLC acquired a new position in NRx Pharmaceuticals in the second quarter valued at approximately $54,000. Finally, AdvisorShares Investments LLC boosted its holdings in NRx Pharmaceuticals by 28.2% in the first quarter. AdvisorShares Investments LLC now owns 420,467 shares of the company's stock valued at $896,000 after purchasing an additional 92,463 shares in the last quarter. 4.27% of the stock is owned by institutional investors and hedge funds.

About NRx Pharmaceuticals

NRx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for central nervous system disorders, particularly conditions involving mood disorders, suicidality and post-traumatic stress disorder. The company's programs are designed to address significant unmet medical needs in psychiatric and neurological care.

NRx Pharmaceuticals' 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 or behavior.

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