NRx Pharmaceuticals (NASDAQ:NRXP) Rating Increased to Hold at Zacks Research

Key Points

• NRx Pharmaceuticals has been upgraded to a "hold" rating by Zacks Research, signaling a shift in analyst outlook on the stock.
• Numerous analysts have given NRx Pharmaceuticals a range of positive ratings, with targets reaching as high as $40.00 for the company's shares.
• The company reported earnings of ($0.98) per share, falling short of analysts' expectations, with a forecast of ($1.75) EPS for the current fiscal year.

Zacks Research upgraded shares of NRx Pharmaceuticals (NASDAQ:NRXP - Free Report) to a hold rating in a research report released on Wednesday,Zacks.com reports.

NRXP has been the subject of several other research reports. Wall Street Zen raised NRx Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. D. Boral Capital reissued a "buy" rating and set a $34.00 price target on shares of NRx Pharmaceuticals in a research report on Monday, September 8th. HC Wainwright initiated coverage on NRx Pharmaceuticals in a research report on Monday, September 8th. They set a "buy" rating and a $40.00 price target for the company. Finally, BTIG Research reissued a "buy" rating on shares of NRx Pharmaceuticals in a research report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $34.50.

NRx Pharmaceuticals Stock Down 2.8%

NASDAQ NRXP traded down $0.08 during mid-day trading on Wednesday, hitting $2.80. The stock had a trading volume of 482,404 shares, compared to its average volume of 504,704. 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 $55.47 million, a price-to-earnings ratio of -1.25 and a beta of 1.63. The company has a 50 day simple moving average of $2.79 and a 200 day simple moving average of $2.56.

NRx Pharmaceuticals (NASDAQ:NRXP - Get Free Report) last released its quarterly earnings results on Monday, August 18th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.67). As a group, equities analysts anticipate that NRx Pharmaceuticals will post -1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NRx Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in NRXP. Geode Capital Management LLC boosted its holdings in NRx Pharmaceuticals by 27.9% in the second 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 during the last quarter. Anson Funds Management LP boosted its holdings in NRx Pharmaceuticals by 535.1% in the first 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 during the last quarter. Squarepoint Ops LLC acquired a new position in NRx Pharmaceuticals in the fourth quarter valued at $56,000. Finally, Millennium Management LLC acquired a new position in NRx Pharmaceuticals in the fourth quarter valued at $61,000. Hedge funds and other institutional investors own 4.27% of the company's stock.

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.