NRx Pharmaceuticals (NASDAQ:NRXP) Receives Buy Rating from D. Boral Capital

Key Points

• D. Boral Capital has restated a "buy" rating for NRx Pharmaceuticals (NASDAQ:NRXP) with a price target of $34.00 per share.
• Other analysts, including HC Wainwright and BTIG Research, have also issued buy ratings, contributing to a consensus price target of $34.50.
• NRx Pharmaceuticals continues to develop treatments for mental health disorders, despite reporting earnings per share of -$0.98, which was below analyst expectations.

NRx Pharmaceuticals (NASDAQ:NRXP - Get Free Report)'s stock had its "buy" rating restated by investment analysts at D. Boral Capital in a note issued to investors on Monday,Benzinga reports. They presently have a $34.00 price objective on the stock.

A number of other analysts also recently issued reports on NRXP. Wall Street Zen raised shares of NRx Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. HC Wainwright reaffirmed a "buy" rating and set a $40.00 price target on shares of NRx Pharmaceuticals in a research report on Monday. Finally, BTIG Research reaffirmed 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 and four have issued a Buy rating to the company. According to data from MarketBeat.com, NRx Pharmaceuticals has an average rating of "Buy" and a consensus price target of $34.50.

NRx Pharmaceuticals Price Performance

Shares of NASDAQ NRXP traded up $0.13 during trading on Monday, hitting $2.88. 391,915 shares of the company were exchanged, compared to its average volume of 501,082. The company has a market cap of $56.97 million, a price-to-earnings ratio of -1.29 and a beta of 1.63. NRx Pharmaceuticals has a 1 year low of $1.10 and a 1 year high of $6.01. The firm's fifty day moving average price is $2.83 and its 200 day moving average price is $2.54.

NRx Pharmaceuticals (NASDAQ:NRXP - Get Free Report) last issued its quarterly earnings data 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, research analysts forecast that NRx Pharmaceuticals will post -1.75 earnings per share for the current year.

Hedge Funds Weigh In On NRx Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC bought a new position in shares of NRx Pharmaceuticals during the fourth quarter worth about $56,000. Millennium Management LLC bought a new stake in shares of NRx Pharmaceuticals during the fourth quarter valued at about $61,000. 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 purchasing an additional 37,598 shares in the last quarter. Finally, Anson Funds Management LP raised its stake in shares of NRx Pharmaceuticals by 535.1% during the first quarter. Anson Funds Management LP now owns 1,179,061 shares of the company's stock valued at $2,417,000 after purchasing an additional 993,401 shares in the last quarter. 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.

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