NLS Pharmaceutics (NASDAQ:NCEL) Trading 2.8% Higher – Here’s What Happened

NLS Pharmaceutics Ltd. (NASDAQ:NCEL) shares shot up 2.8% on Monday . The stock traded as high as $3.40 and last traded at $3.28. 13,871 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 12,760 shares. The stock had previously closed at $3.19.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Laidlaw assumed coverage on shares of NLS Pharmaceutics in a report on Monday, July 13th. They issued a “buy” rating and a $23.00 price target for the company. Weiss Ratings upgraded NLS Pharmaceutics from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.00.

NLS Pharmaceutics Stock Performance

The business has a 50 day moving average of $3.61 and a 200-day moving average of $3.19.

NLS Pharmaceutics Company Profile

NLS Pharmaceutics (NASDAQ: NCEL) is a clinical-stage biopharmaceutical company headquartered in Zurich, Switzerland, with additional operations in the United States. The company focuses on the development of small-molecule therapies designed to address disorders of the circadian rhythm and sleep-wake cycle. It leverages proprietary controlled-release and receptor-targeting approaches to optimize drug exposure over a 24-hour period.

The core of NLS Pharmaceutics’ pipeline consists of novel melatonin receptor agonists aimed at treating rare and orphan sleep disorders such as non-24-hour sleep-wake disorder and idiopathic hypersomnia.