Brokerages Set NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Price Target at $28.50

Shares of NRx Pharmaceuticals, Inc. (NASDAQ:NRXP - Get Free Report) have earned an average recommendation of "Buy" from the five research firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $28.50.

Several brokerages have recently commented on NRXP. D. Boral Capital reiterated a "buy" rating and set a $31.00 price objective on shares of NRx Pharmaceuticals in a report on Friday, June 20th. Wall Street Zen upgraded NRx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. BTIG Research began coverage on NRx Pharmaceuticals in a report on Wednesday, April 2nd. They set a "buy" rating and a $18.00 price objective for the company. HC Wainwright reiterated a "buy" rating and set a $19.00 price objective on shares of NRx Pharmaceuticals in a report on Thursday, March 20th. Finally, Ascendiant Capital Markets upped their target price on NRx Pharmaceuticals from $45.00 to $46.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th.

NRx Pharmaceuticals Price Performance

NASDAQ:NRXP remained flat at $3.21 during midday trading on Friday. The company had a trading volume of 118,348 shares, compared to its average volume of 421,327. NRx Pharmaceuticals has a 52 week low of $1.10 and a 52 week high of $6.01. The stock has a market capitalization of $55.50 million, a P/E ratio of -1.60 and a beta of 1.59. The company's 50 day simple moving average is $2.92 and its 200-day simple moving average is $2.68.

NRx Pharmaceuticals (NASDAQ:NRXP - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.06. The business had revenue of $1.14 million for the quarter, compared to analysts' expectations of $1.14 million. As a group, research analysts predict that NRx Pharmaceuticals will post -1.75 EPS for the current year.

Institutional Investors Weigh In On NRx Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sassicaia Capital Advisers LLC acquired a new stake in NRx Pharmaceuticals during the 4th quarter worth about $33,000. Squarepoint Ops LLC acquired a new stake in NRx Pharmaceuticals during the 4th quarter worth about $56,000. Millennium Management LLC acquired a new stake in NRx Pharmaceuticals during the 4th quarter worth about $61,000. Anson Funds Management LP grew its position in NRx Pharmaceuticals by 30.3% during the 4th quarter. Anson Funds Management LP now owns 185,660 shares of the company's stock worth $408,000 after purchasing an additional 43,135 shares during the period. Finally, AdvisorShares Investments LLC grew its position in NRx Pharmaceuticals by 138.5% during the 4th quarter. AdvisorShares Investments LLC now owns 310,314 shares of the company's stock worth $683,000 after purchasing an additional 180,229 shares during the period. 4.27% of the stock is owned by institutional investors and hedge funds.

About NRx Pharmaceuticals

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.