NRx Pharmaceuticals (NASDAQ:NRXP) Releases Quarterly Earnings Results, Misses Expectations By $0.10 EPS

NRx Pharmaceuticals (NASDAQ:NRXP) issued its quarterly earnings results on Friday. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.10), Zacks reports.

NRx Pharmaceuticals Price Performance

Shares of NRXP stock traded down $0.10 on Friday, hitting $2.49. The company’s stock had a trading volume of 432,261 shares, compared to its average volume of 475,505. NRx Pharmaceuticals has a fifty-two week low of $1.13 and a fifty-two week high of $6.01. The firm’s fifty day moving average price is $3.02 and its 200-day moving average price is $2.87. The stock has a market capitalization of $49.33 million, a price-to-earnings ratio of -1.11 and a beta of 1.76.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Two Sigma Investments LP lifted its holdings in NRx Pharmaceuticals by 66.4% in the 3rd quarter. Two Sigma Investments LP now owns 52,332 shares of the company’s stock worth $173,000 after purchasing an additional 20,880 shares during the last quarter. Geode Capital Management LLC grew its holdings in NRx Pharmaceuticals by 27.9% during the second quarter. Geode Capital Management LLC now owns 172,255 shares of the company’s stock valued at $562,000 after purchasing an additional 37,598 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of NRx Pharmaceuticals by 18.3% in the third quarter. Vanguard Group Inc. now owns 534,956 shares of the company’s stock valued at $1,765,000 after purchasing an additional 82,781 shares during the period. Institutional investors and hedge funds own 4.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NRx Pharmaceuticals in a research note on Wednesday, October 8th. Ascendiant Capital Markets raised their price target on shares of NRx Pharmaceuticals from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. BTIG Research reaffirmed a “buy” rating on shares of NRx Pharmaceuticals in a research report on Monday, August 25th. D. Boral Capital reiterated a “buy” rating and issued a $34.00 target price on shares of NRx Pharmaceuticals in a research report on Monday. Finally, HC Wainwright restated a “buy” rating and set a $40.00 price target on shares of NRx Pharmaceuticals in a report on Thursday, October 16th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.75.

NRx Pharmaceuticals Company Profile

NRx Pharmaceuticals, Inc, a clinical-stage bio-pharmaceutical company, develops novel therapeutics for the treatment of central nervous system disorders, including suicidal depression, post-traumatic stress disorder, and chronic pain. Its products include NRX-101 (D-cycloserine/Lurasidone), an oral, fixed dosed combination of D-cycloserine and lurasidone that earned food and drug administration-designated breakthrough therapy for suicidal treatment-resistant bipolar depression; and NRX-100 (ketamine), which has been awarded FDA fast track designation for the treatment of severe bipolar depression with acute suicidal ideation and behavior.