NRx Pharmaceuticals (NASDAQ:NRXP) Given New $51.00 Price Target at Ascendiant Capital Markets

NRx Pharmaceuticals (NASDAQ:NRXP) had its price target lifted by analysts at Ascendiant Capital Markets from $50.00 to $51.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Several other analysts also recently issued reports on NRXP. HC Wainwright restated a “buy” rating on shares of NRx Pharmaceuticals in a report on Tuesday, August 25th. Wolfe Research began coverage on shares of NRx Pharmaceuticals in a research report on Thursday, October 15th. They set an “outperform” rating on the stock. Wall Street Zen lowered NRx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. UBS Group restated a “buy” rating on shares of NRx Pharmaceuticals in a research report on Wednesday, August 26th. Finally, BTIG Research restated a “buy” rating and set a $10.00 price target on shares of NRx Pharmaceuticals in a research note on Monday, September 14th. Six research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, NRx Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

NRx Pharmaceuticals Stock Performance

NRXP opened at $2.27 on Monday. The business’s fifty day moving average is $3.06 and its two-hundred day moving average is $2.96. The company has a market cap of $98.29 million, a price-to-earnings ratio of -4.13 and a beta of 2.11. NRx Pharmaceuticals has a one year low of $1.62 and a one year high of $5.05.

NRx Pharmaceuticals (NASDAQ:NRXP) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.33). The business had revenue of $1.10 million during the quarter, compared to the consensus estimate of $1.33 million. On average, analysts predict that NRx Pharmaceuticals will post -1.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NRXP. Prime Capital Investment Advisors LLC acquired a new stake in NRx Pharmaceuticals in the third quarter valued at $364,000. SBI Securities Co. Ltd. lifted its stake in NRx Pharmaceuticals by 292.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 20,001 shares of the company’s stock valued at $58,000 after purchasing an additional 14,900 shares during the last quarter. Squarepoint Ops LLC bought a new position in NRx Pharmaceuticals during the second quarter worth about $54,000. Finally, Ethos Financial Group LLC raised its stake in NRx Pharmaceuticals by 33.6% in the first quarter. Ethos Financial Group LLC now owns 15,900 shares of the company’s stock valued at $34,000 after buying an additional 4,000 shares during the period. 4.27% of the stock is currently owned by institutional investors.

NRx Pharmaceuticals Company Profile

NRx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for central nervous system disorders, particularly severe depression and suicidal ideation. The company’s research programs are designed to address conditions in which existing therapies may have limited effectiveness or delayed onset.

NRx’s lead investigational product is NRX-101, an oral fixed-dose combination of D-cycloserine and lurasidone being developed for bipolar depression with acute suicidal ideation.