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

NRx Pharmaceuticals, Inc. (NASDAQ:NRXP - Get Free Report) has received an average recommendation of "Buy" from the five research firms that are 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 target among brokers that have issued a report on the stock in the last year is $28.50.

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

NRx Pharmaceuticals Price Performance

Shares of NRx Pharmaceuticals stock traded down $0.14 during mid-day trading on Monday, hitting $3.34. 186,178 shares of the stock were exchanged, compared to its average volume of 411,903. The company has a 50-day simple moving average of $2.42 and a 200 day simple moving average of $2.42. NRx Pharmaceuticals has a twelve month low of $1.10 and a twelve month high of $6.01.

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 (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.06. The firm had revenue of $1.14 million for the quarter, compared to analysts' expectations of $1.14 million. Equities analysts predict that NRx Pharmaceuticals will post -1.75 earnings per share for the current year.

Institutional Investors Weigh In On NRx Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Sassicaia Capital Advisers LLC bought a new stake in shares of NRx Pharmaceuticals in the 4th quarter valued at about $33,000. Squarepoint Ops LLC bought a new position in shares of NRx Pharmaceuticals during the fourth quarter valued at $56,000. Millennium Management LLC purchased a new stake in shares of NRx Pharmaceuticals during the 4th quarter valued at about $61,000. Anson Funds Management LP raised its stake in NRx Pharmaceuticals by 30.3% during the 4th quarter. Anson Funds Management LP now owns 185,660 shares of the company's stock valued at $408,000 after buying an additional 43,135 shares during the last quarter. Finally, AdvisorShares Investments LLC increased its position in shares of NRx Pharmaceuticals by 138.5% during the 4th quarter. AdvisorShares Investments LLC now owns 310,314 shares of the company's stock valued at $683,000 after purchasing an additional 180,229 shares during the last quarter. Institutional investors 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.