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NRx Pharmaceuticals (NASDAQ:NRXP) Upgraded by Zacks Research to Hold Rating

NRx Pharmaceuticals logo with Medical background

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.
  • Interested in NRx Pharmaceuticals? Here are five stocks we like better.

Zacks Research upgraded shares of NRx Pharmaceuticals (NASDAQ:NRXP - Free Report) to a hold rating in a research report released on Wednesday, September 10th,Zacks.com reports.

A number of other research analysts have also commented on the stock. Wall Street Zen upgraded shares of NRx Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. D. Boral Capital reiterated a "buy" rating and set a $34.00 target price on shares of NRx Pharmaceuticals in a research note on Monday, September 8th. HC Wainwright began coverage on NRx Pharmaceuticals in a report on Monday, September 8th. They set a "buy" rating and a $40.00 price target for the company. Finally, BTIG Research reiterated a "buy" rating on shares of NRx Pharmaceuticals in a research report on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $34.50.

Check Out Our Latest Analysis on NRx Pharmaceuticals

NRx Pharmaceuticals Stock Down 0.3%

Shares of NRXP stock traded down $0.01 during trading on Wednesday, reaching $2.97. 208,762 shares of the company's stock were exchanged, compared to its average volume of 503,987. NRx Pharmaceuticals has a twelve month low of $1.10 and a twelve month high of $6.01. The firm's fifty day moving average price is $2.78 and its 200-day moving average price is $2.57. The stock has a market capitalization of $58.84 million, a PE ratio of -1.33 and a beta of 1.63.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Anson Funds Management LP boosted its position in NRx Pharmaceuticals by 535.1% during the 1st quarter. Anson Funds Management LP now owns 1,179,061 shares of the company's stock worth $2,417,000 after buying an additional 993,401 shares during the period. Geode Capital Management LLC raised its stake in shares of NRx Pharmaceuticals by 27.9% during 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. Millennium Management LLC acquired a new position in shares of NRx Pharmaceuticals during the fourth quarter worth $61,000. Finally, Squarepoint Ops LLC acquired a new position in shares of NRx Pharmaceuticals during the fourth quarter worth $56,000. 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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