NRx Pharmaceuticals' (NRXP) Buy Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright has **reiterated a "buy" rating** for NRx Pharmaceuticals (NRXP) with a **price target of $40.00** per share.
• NRx Pharmaceuticals has received an average rating of **"Buy"** from analysts, with a consensus target price of **$34.50**.
• Despite a recent report of **($0.98) earnings per share**, NRx is focused on developing treatments for **central nervous system disorders** and has received FDA designations for its therapies.

NRx Pharmaceuticals (NASDAQ:NRXP - Get Free Report)'s stock had its "buy" rating restated by stock analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They presently have a $40.00 price target on the stock.

Several other analysts also recently commented on the stock. Zacks Research upgraded shares of NRx Pharmaceuticals to a "hold" rating in a research report on Wednesday, September 10th. BTIG Research reaffirmed a "buy" rating on shares of NRx Pharmaceuticals in a report on Monday, August 25th. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $34.00 price objective on shares of NRx Pharmaceuticals in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $34.50.

NRx Pharmaceuticals Price Performance

Shares of NRXP opened at $3.30 on Wednesday. NRx Pharmaceuticals has a 1-year low of $1.10 and a 1-year high of $6.01. The stock has a market cap of $65.37 million, a PE ratio of -1.47 and a beta of 1.63. The firm has a fifty day moving average price of $2.76 and a 200 day moving average price of $2.63.

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). As a group, equities analysts expect that NRx Pharmaceuticals will post -1.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new position in NRx Pharmaceuticals in the 4th quarter valued at approximately $61,000. Squarepoint Ops LLC purchased a new position in shares of NRx Pharmaceuticals in the fourth quarter valued at $56,000. Anson Funds Management LP increased its position in shares of 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 buying an additional 993,401 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of 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 buying an additional 37,598 shares in the last quarter. 4.27% of the stock is owned by hedge funds and other institutional investors.

About NRx Pharmaceuticals

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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