NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Given Average Rating of "Buy" by Brokerages

Shares of NRx Pharmaceuticals, Inc. (NASDAQ:NRXP - Get Free Report) have been given a consensus recommendation of "Buy" by the five research firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $28.50.

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

NRx Pharmaceuticals Stock Performance

NASDAQ NRXP opened at $3.27 on Friday. The firm has a 50 day simple moving average of $2.90 and a 200-day simple moving average of $2.65. NRx Pharmaceuticals has a one year low of $1.10 and a one year high of $6.01. The firm has a market cap of $56.54 million, a price-to-earnings ratio of -1.63 and a beta of 1.59.

NRx Pharmaceuticals (NASDAQ:NRXP - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $1.14 million. Equities analysts predict that NRx Pharmaceuticals will post -1.75 EPS for the current fiscal year.

Institutional Trading of NRx Pharmaceuticals

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

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.

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