NRx Pharmaceuticals (NASDAQ:NRXP) Earns 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 equities research analysts at D. Boral Capital in a report issued on Monday,Benzinga reports. They presently have a $34.00 target price on the stock.

Several other research firms have also recently issued reports on NRXP. BTIG Research reiterated a "buy" rating on shares of NRx Pharmaceuticals in a report on Monday, August 25th. Wall Street Zen upgraded NRx Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, HC Wainwright assumed coverage on NRx Pharmaceuticals in a report on Monday, September 8th. They issued a "buy" rating and a $40.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, NRx Pharmaceuticals currently has an average rating of "Buy" and an average price target of $34.50.

NRx Pharmaceuticals Price Performance

NRXP stock traded down $0.08 during trading on Monday, hitting $2.80. The stock had a trading volume of 482,404 shares, compared to its average volume of 508,943. NRx Pharmaceuticals has a twelve month low of $1.10 and a twelve month high of $6.01. The stock has a market capitalization of $55.47 million, a P/E ratio of -1.25 and a beta of 1.63. The company's 50-day moving average price is $2.79 and its two-hundred day moving average price is $2.56.

NRx Pharmaceuticals (NASDAQ:NRXP - Get Free Report) last posted 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). As a group, sell-side analysts expect that NRx Pharmaceuticals will post -1.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new position in shares of NRx Pharmaceuticals during the 4th quarter worth approximately $56,000. Millennium Management LLC acquired a new position in NRx Pharmaceuticals in the fourth quarter valued at approximately $61,000. Geode Capital Management LLC lifted 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. Finally, Anson Funds Management LP lifted 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. 4.27% of the stock is currently owned by institutional investors and hedge funds.

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.