NRx Pharmaceuticals (NASDAQ:NRXP) Shares Down 4.1% - Here's Why

Key Points

• NRx Pharmaceuticals' shares dropped 4.1% to trade at $3.04, with trading volume 30% lower than the average.
• Despite the recent decline, several brokerages maintain a positive outlook, with price targets ranging from $34.00 to $40.00 and an average rating of "Moderate Buy."
• The company missed earnings expectations by ($0.67) per share, reporting ($0.98) earnings for the last quarter.

NRx Pharmaceuticals, Inc. (NASDAQ:NRXP - Get Free Report) shares fell 4.1% during trading on Thursday . The company traded as low as $3.04 and last traded at $3.04. 287,818 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 413,944 shares. The stock had previously closed at $3.17.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NRXP. D. Boral Capital reiterated a "buy" rating and issued a $34.00 price objective on shares of NRx Pharmaceuticals in a research report on Thursday, September 25th. HC Wainwright reiterated a "buy" rating and issued a $40.00 price objective on shares of NRx Pharmaceuticals in a research report on Thursday. Zacks Research upgraded NRx Pharmaceuticals to a "hold" rating in a research report on Wednesday, September 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of NRx Pharmaceuticals in a research report on Wednesday, October 8th. 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 assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $34.50.

NRx Pharmaceuticals Stock Performance

The firm has a market capitalization of $60.22 million, a P/E ratio of -1.36 and a beta of 1.74. The company has a 50-day moving average price of $2.89 and a 200-day moving average price of $2.72.

NRx Pharmaceuticals (NASDAQ:NRXP - Get Free Report) last posted its 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). Equities analysts predict that NRx Pharmaceuticals, Inc. will post -1.75 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in NRx Pharmaceuticals stock. Anson Funds Management LP boosted its holdings in shares of NRx Pharmaceuticals, Inc. (NASDAQ:NRXP - Free Report) by 535.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,179,061 shares of the company's stock after acquiring an additional 993,401 shares during the period. Anson Funds Management LP owned approximately 6.85% of NRx Pharmaceuticals worth $2,417,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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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