NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Stock Has Consensus Target Price of $34.50

NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $34.50.

A number of brokerages recently weighed in on NRXP. Wolfe Research initiated coverage on shares of NRx Pharmaceuticals in a research report on Thursday, October 15th. They set an “outperform” rating for the company. Wall Street Zen downgraded shares of NRx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NRx Pharmaceuticals in a research note on Tuesday. BTIG Research reissued a “buy” rating and set a $10.00 price objective on shares of NRx Pharmaceuticals in a report on Monday, September 14th. Finally, HC Wainwright restated a “buy” rating on shares of NRx Pharmaceuticals in a research report on Tuesday, August 25th.

Hedge Funds Weigh In On NRx Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its stake in NRx Pharmaceuticals by 30.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 590,768 shares of the company’s stock worth $1,725,000 after acquiring an additional 136,350 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of NRx Pharmaceuticals by 292.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 20,001 shares of the company’s stock worth $58,000 after acquiring an additional 14,900 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of NRx Pharmaceuticals during the 3rd quarter worth approximately $364,000. Squarepoint Ops LLC bought a new position in shares of NRx Pharmaceuticals during the 2nd quarter valued at approximately $54,000. Finally, Ethos Financial Group LLC boosted its position in shares of NRx Pharmaceuticals by 33.6% during the 1st quarter. Ethos Financial Group LLC now owns 15,900 shares of the company’s stock valued at $34,000 after acquiring an additional 4,000 shares during the last quarter. 4.27% of the stock is owned by institutional investors.

NRx Pharmaceuticals Trading Up 11.2%

NASDAQ NRXP opened at $2.49 on Thursday. The stock’s 50 day moving average is $2.98 and its 200 day moving average is $2.96. NRx Pharmaceuticals has a 12 month low of $1.62 and a 12 month high of $5.05. The stock has a market cap of $107.82 million, a PE ratio of -4.53 and a beta of 2.11.

NRx Pharmaceuticals (NASDAQ:NRXP) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.44) earnings per share 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 analyst estimates of $1.33 million. On average, analysts forecast that NRx Pharmaceuticals will post -1.14 EPS for the current fiscal year.

About NRx Pharmaceuticals

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.