NeurAxis (NRXS) Expected to Announce Quarterly Earnings on Tuesday

Key Points

• NeurAxis is expected to report quarterly earnings before the market opens on Tuesday, May 12, with analysts looking for a loss of $0.19 per share on revenue of $1.45 million.
• The stock was down 6.8% in Friday trading, opening at $8.20; it has a market cap of $94.34 million and has traded between $2.00 and $9.33 over the past year.
• Craig Hallum recently raised its price target on NeurAxis from $8.00 to $13.00 and reiterated a buy rating, while hedge funds now hold 11.77% of the stock.

NeurAxis (NASDAQ:NRXS - Get Free Report) will likely be issuing its results before the market opens on Tuesday, May 12th. Analysts expect the company to announce earnings of ($0.19) per share and revenue of $1.45 million for the quarter.

NeurAxis Trading Down 6.8%

Shares of NRXS stock opened at $8.20 on Friday. The stock has a market cap of $94.34 million, a price-to-earnings ratio of -4.46 and a beta of 1.50. The stock has a 50-day moving average of $7.03 and a 200-day moving average of $4.88. NeurAxis has a 1-year low of $2.00 and a 1-year high of $9.33.

Hedge Funds Weigh In On NeurAxis

Several hedge funds have recently made changes to their positions in the stock. State Street Corp purchased a new position in shares of NeurAxis in the 4th quarter worth about $139,000. Citadel Advisors LLC boosted its holdings in shares of NeurAxis by 39.6% in the 3rd quarter. Citadel Advisors LLC now owns 35,627 shares of the company's stock worth $110,000 after purchasing an additional 10,103 shares in the last quarter. Manatuck Hill Partners LLC purchased a new position in shares of NeurAxis in the 2nd quarter worth about $122,000. Geode Capital Management LLC boosted its holdings in shares of NeurAxis by 48.8% in the 4th quarter. Geode Capital Management LLC now owns 75,653 shares of the company's stock worth $343,000 after purchasing an additional 24,817 shares in the last quarter. Finally, Rosalind Advisors Inc. purchased a new position in shares of NeurAxis in the 4th quarter worth about $1,299,000. 11.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Craig Hallum increased their price target on NeurAxis from $8.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, March 20th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, NeurAxis has an average rating of "Buy" and an average target price of $13.00.

NeurAxis Company Profile

NeurAxis NASDAQ: NRXS is a clinical-stage biotechnology company focused on the discovery and development of therapeutic candidates for diseases of the central nervous system. The company leverages a proprietary approach to deliver small molecules and biologics across the blood–brain barrier, aiming to address conditions ranging from acute neural injury to chronic neurodegenerative disorders.

NeurAxis advances its pipeline through a combination of in-house research, external collaborations with academic medical centers and contract research organizations, and strategic licensing agreements.

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