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

NRx Pharmaceuticals, Inc. (NASDAQ:NRXP - Get Free Report) has been assigned an average recommendation of "Buy" from the five research firms that are covering the company, MarketBeat 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 target price among brokers that have updated their coverage on the stock in the last year is $28.50.

Several research firms have commented on NRXP. Ascendiant Capital Markets boosted their price objective on NRx Pharmaceuticals from $45.00 to $46.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. HC Wainwright reaffirmed a "buy" rating and issued a $19.00 price target on shares of NRx Pharmaceuticals in a research note on Thursday, March 20th. BTIG Research assumed coverage on NRx Pharmaceuticals in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $18.00 price objective for the company. D. Boral Capital restated a "buy" rating and issued a $31.00 price objective on shares of NRx Pharmaceuticals in a report on Friday, June 6th. Finally, Wall Street Zen raised shares of NRx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd.

NRx Pharmaceuticals Trading Down 3.3%

NRXP traded down $0.11 during midday trading on Monday, hitting $3.23. 213,695 shares of the company traded hands, compared to its average volume of 414,056. The business has a 50 day simple moving average of $2.51 and a two-hundred day simple moving average of $2.45. NRx Pharmaceuticals has a 52-week low of $1.10 and a 52-week high of $6.01. The company has a market capitalization of $55.85 million, a price-to-earnings ratio of -1.61 and a beta of 1.54.

NRx Pharmaceuticals (NASDAQ:NRXP - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.06. The company had revenue of $1.14 million for the quarter, compared to analyst estimates of $1.14 million. Equities research analysts anticipate that NRx Pharmaceuticals will post -1.75 earnings per share for the current year.

Institutional Investors Weigh In On NRx Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Sassicaia Capital Advisers LLC acquired a new stake in shares of NRx Pharmaceuticals in the fourth quarter valued at approximately $33,000. AdvisorShares Investments LLC grew its holdings in NRx Pharmaceuticals by 138.5% in the 4th quarter. AdvisorShares Investments LLC now owns 310,314 shares of the company's stock valued at $683,000 after buying an additional 180,229 shares in the last quarter. Anson Funds Management LP increased its stake in shares of NRx Pharmaceuticals by 30.3% in the 4th 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. Millennium Management LLC purchased a new position in shares of NRx Pharmaceuticals during the 4th quarter worth $61,000. Finally, Squarepoint Ops LLC purchased a new position in shares of NRx Pharmaceuticals during the 4th quarter worth $56,000. 4.27% of the stock is currently owned by hedge funds and other institutional investors.

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.