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

NRx Pharmaceuticals (NASDAQ:NRXP – Get Rating)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $2.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 65.06% from the company’s previous close.

Separately, Ascendiant Capital Markets started coverage on NRx Pharmaceuticals in a research report on Wednesday, November 9th. They set a “buy” rating and a $4.00 price objective for the company.

NRx Pharmaceuticals Stock Performance

NRXP traded up $0.03 during trading on Thursday, reaching $1.21. The company had a trading volume of 108,300 shares, compared to its average volume of 300,236. The firm’s 50-day simple moving average is $1.23 and its 200 day simple moving average is $0.93. The company has a market cap of $82.02 million, a price-to-earnings ratio of -2.20 and a beta of 0.99. NRx Pharmaceuticals has a 12-month low of $0.49 and a 12-month high of $3.54.

NRx Pharmaceuticals (NASDAQ:NRXP – Get Rating) last issued its quarterly earnings results on Monday, November 14th. The company reported ($0.14) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14). On average, sell-side analysts expect that NRx Pharmaceuticals will post -0.67 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Daniel C. Javitt sold 49,200 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $1.01, for a total value of $49,692.00. Following the sale, the insider now owns 9,823,701 shares of the company’s stock, valued at $9,921,938.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Daniel C. Javitt sold 49,200 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $1.01, for a total transaction of $49,692.00. Following the sale, the insider now directly owns 9,823,701 shares of the company’s stock, valued at $9,921,938.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Chaim Hurvitz acquired 287,812 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The stock was acquired at an average price of $0.99 per share, for a total transaction of $284,933.88. Following the completion of the acquisition, the director now directly owns 287,812 shares of the company’s stock, valued at $284,933.88. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 426,307 shares of company stock valued at $441,204 and have sold 495,948 shares valued at $504,956. Company insiders own 25.70% of the company’s stock.

Institutional Investors Weigh In On NRx Pharmaceuticals

Several hedge funds have recently bought and sold shares of NRXP. Bank of New York Mellon Corp acquired a new stake in NRx Pharmaceuticals in the first quarter worth $25,000. Citigroup Inc. raised its holdings in shares of NRx Pharmaceuticals by 355.1% during the first quarter. Citigroup Inc. now owns 15,208 shares of the company’s stock worth $37,000 after acquiring an additional 11,866 shares during the period. BlackRock Inc. raised its holdings in shares of NRx Pharmaceuticals by 1.9% during the first quarter. BlackRock Inc. now owns 525,493 shares of the company’s stock worth $1,287,000 after acquiring an additional 10,045 shares during the period. Northern Trust Corp raised its holdings in shares of NRx Pharmaceuticals by 61.5% during the first quarter. Northern Trust Corp now owns 58,598 shares of the company’s stock worth $144,000 after acquiring an additional 22,322 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of NRx Pharmaceuticals during the first quarter worth $341,000. 6.09% of the stock is currently owned by institutional investors and hedge funds.

NRx Pharmaceuticals Company Profile

(Get Rating)

NRX Pharmaceuticals, Inc is a clinical-stage small molecule pharmaceutical company. It engages in developing of novel therapeutics for the treatment of central nervous system disorders and life-threatening pulmonary diseases. The company was founded on September 18, 2017 and is headquartered in Wilmington, DE.