NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Receives $34.50 Consensus Price Target from Analysts

NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) has received an average recommendation of “Hold” from the seven research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $34.50.

A number of research analysts have issued reports on NRXP shares. HC Wainwright reiterated a “buy” rating on shares of NRx Pharmaceuticals in a research report on Tuesday, August 25th. Zacks Research cut shares of NRx Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 26th. BTIG Research reaffirmed a “buy” rating and set a $10.00 price target on shares of NRx Pharmaceuticals in a report on Monday. Wall Street Zen downgraded shares of NRx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NRx Pharmaceuticals in a research report on Wednesday, August 5th.

NRx Pharmaceuticals Price Performance

NASDAQ NRXP opened at $3.40 on Wednesday. The business has a fifty day moving average price of $3.61 and a two-hundred day moving average price of $3.20. NRx Pharmaceuticals has a fifty-two week low of $1.62 and a fifty-two week high of $5.05. The stock has a market capitalization of $147.22 million, a PE ratio of -6.18 and a beta of 2.19.

NRx Pharmaceuticals (NASDAQ:NRXP) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.33). The firm had revenue of $1.10 million during the quarter, compared to the consensus estimate of $1.33 million. As a group, sell-side analysts expect that NRx Pharmaceuticals will post -0.36 earnings per share for the current year.

Hedge Funds Weigh In On NRx Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of NRXP. Bleakley Financial Group LLC acquired a new position in NRx Pharmaceuticals in the 4th quarter valued at approximately $318,000. AdvisorShares Investments LLC lifted its holdings in shares of NRx Pharmaceuticals by 28.2% during the first quarter. AdvisorShares Investments LLC now owns 420,467 shares of the company’s stock worth $896,000 after purchasing an additional 92,463 shares during the period. Global Retirement Partners LLC acquired a new position in shares of NRx Pharmaceuticals during the fourth quarter worth $107,000. Squarepoint Ops LLC bought a new stake in shares of NRx Pharmaceuticals in the second quarter worth $54,000. Finally, Ethos Financial Group LLC grew its stake in shares of NRx Pharmaceuticals by 33.6% in the first quarter. Ethos Financial Group LLC now owns 15,900 shares of the company’s stock worth $34,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 4.27% of the company’s stock.

About NRx Pharmaceuticals

NRx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for central nervous system disorders, particularly conditions involving mood disorders, suicidality and post-traumatic stress disorder. The company’s programs are designed to address significant unmet medical needs in psychiatric and neurological care.

NRx Pharmaceuticals’ 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 or behavior.