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

NRx Pharmaceuticals logo with Medical background

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.

Read Our Latest Research Report on NRx Pharmaceuticals

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

(Get Free Report

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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Analyst Recommendations for NRx Pharmaceuticals (NASDAQ:NRXP)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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