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

Key Points

• NRx Pharmaceuticals, Inc. has received a consensus rating of "Buy" from six analysts, with an average target price of $34.50.
• Following recent earnings results, the company reported an EPS of ($0.98), significantly missing the estimated ($0.31).
• Several hedge funds have increased their stakes in the company, indicating growing institutional interest and support for the stock.

NRx Pharmaceuticals, Inc. (NASDAQ:NRXP - Get Free Report) has been given a consensus rating of "Buy" by the six ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $34.50.

NRXP has been the subject of several research analyst reports. BTIG Research reissued a "buy" rating on shares of NRx Pharmaceuticals in a research note on Monday, August 25th. HC Wainwright initiated coverage on shares of NRx Pharmaceuticals in a report on Monday, September 8th. They set a "buy" rating and a $40.00 price target for the company. Zacks Research raised shares of NRx Pharmaceuticals to a "hold" rating in a research report on Wednesday, September 10th. Finally, D. Boral Capital reiterated a "buy" rating and issued a $34.00 price objective on shares of NRx Pharmaceuticals in a research note on Monday, September 8th.

Hedge Funds Weigh In On NRx Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC purchased a new position in shares of NRx Pharmaceuticals during the 4th quarter valued at $56,000. Millennium Management LLC purchased a new position in shares of NRx Pharmaceuticals during the 4th quarter valued at $61,000. Geode Capital Management LLC grew its holdings in shares of NRx Pharmaceuticals by 27.9% during the 2nd quarter. Geode Capital Management LLC now owns 172,255 shares of the company's stock valued at $562,000 after acquiring an additional 37,598 shares in the last quarter. Finally, Anson Funds Management LP grew its holdings in shares of NRx Pharmaceuticals by 535.1% during the 1st quarter. Anson Funds Management LP now owns 1,179,061 shares of the company's stock valued at $2,417,000 after acquiring an additional 993,401 shares in the last quarter. 4.27% of the stock is currently owned by hedge funds and other institutional investors.

NRx Pharmaceuticals Stock Performance

Shares of NASDAQ:NRXP opened at $2.85 on Wednesday. The firm has a 50 day simple moving average of $2.75 and a 200 day simple moving average of $2.59. NRx Pharmaceuticals has a 52 week low of $1.10 and a 52 week high of $6.01. The company has a market cap of $56.46 million, a PE ratio of -1.27 and a beta of 1.63.

NRx Pharmaceuticals (NASDAQ:NRXP - Get Free Report) last announced its earnings results on Monday, August 18th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.67). On average, equities analysts predict that NRx Pharmaceuticals will post -1.75 earnings per share for the current year.

NRx Pharmaceuticals Company Profile

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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