NRx Pharmaceuticals (NASDAQ:NRXP) Earns “Buy” Rating from HC Wainwright

NRx Pharmaceuticals (NASDAQ:NRXP)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $40.00 price objective on the stock.

A number of other research analysts have also recently issued reports on the company. Ascendiant Capital Markets lifted their target price on NRx Pharmaceuticals from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. D. Boral Capital reissued a “buy” rating and issued a $34.00 target price on shares of NRx Pharmaceuticals in a report on Tuesday, December 2nd. Zacks Research upgraded shares of NRx Pharmaceuticals to a “hold” rating in a research note on Wednesday, September 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NRx Pharmaceuticals in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of NRx Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NRx Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $36.50.

NRx Pharmaceuticals Stock Up 8.6%

NRXP opened at $2.28 on Tuesday. The company has a 50-day simple moving average of $2.63 and a 200 day simple moving average of $2.86. The stock has a market capitalization of $67.49 million, a price-to-earnings ratio of -0.97 and a beta of 1.91. NRx Pharmaceuticals has a twelve month low of $1.40 and a twelve month high of $6.01.

NRx Pharmaceuticals (NASDAQ:NRXP) last issued its earnings results on Friday, November 14th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). The business had revenue of $0.24 million during the quarter, compared to analysts’ expectations of $6.83 million. Sell-side analysts anticipate that NRx Pharmaceuticals will post -1.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NRXP. Anson Funds Management LP boosted its holdings 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 worth $2,417,000 after acquiring an additional 993,401 shares during the period. Vanguard Group Inc. boosted its stake in NRx Pharmaceuticals by 18.3% during the third quarter. Vanguard Group Inc. now owns 534,956 shares of the company’s stock valued at $1,765,000 after buying an additional 82,781 shares during the period. 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 worth $562,000 after purchasing an additional 37,598 shares during the last quarter. Two Sigma Investments LP raised its position in shares of NRx Pharmaceuticals by 66.4% during the 3rd quarter. Two Sigma Investments LP now owns 52,332 shares of the company’s stock valued at $173,000 after buying an additional 20,880 shares in the last quarter. Finally, AdvisorShares Investments LLC lifted its position in NRx Pharmaceuticals by 29.7% in the 3rd quarter. AdvisorShares Investments LLC now owns 342,136 shares of the company’s stock worth $1,129,000 after buying an additional 78,339 shares during the last quarter. Institutional investors own 4.27% of the company’s stock.

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.