NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Stock Has Average Target Price of $34.50 According to Analysts

NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) has received a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $34.50.

A number of equities research analysts have weighed in on NRXP shares. HC Wainwright reaffirmed a “buy” rating on shares of NRx Pharmaceuticals in a report on Tuesday, August 25th. BTIG Research reissued a “buy” rating and issued a $10.00 target price on shares of NRx Pharmaceuticals in a report on Monday, September 14th. Weiss Ratings restated a “sell (d-)” rating on shares of NRx Pharmaceuticals in a research report on Wednesday, August 5th. Wall Street Zen downgraded NRx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Wolfe Research assumed coverage on NRx Pharmaceuticals in a research note on Thursday, October 15th. They issued an “outperform” rating on the stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new stake in shares of NRx Pharmaceuticals in the 2nd quarter valued at $54,000. Ethos Financial Group LLC grew its holdings in shares of NRx Pharmaceuticals by 33.6% in the 1st 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. SBI Securities Co. Ltd. grew its holdings in shares of NRx Pharmaceuticals by 292.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 20,001 shares of the company’s stock worth $58,000 after purchasing an additional 14,900 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of NRx Pharmaceuticals during the 3rd quarter worth about $364,000. Finally, AdvisorShares Investments LLC increased its position in shares of NRx Pharmaceuticals by 28.2% during the 1st quarter. AdvisorShares Investments LLC now owns 420,467 shares of the company’s stock worth $896,000 after purchasing an additional 92,463 shares in the last quarter. 4.27% of the stock is currently owned by institutional investors and hedge funds.

NRx Pharmaceuticals Stock Performance

Shares of NRx Pharmaceuticals stock opened at $2.27 on Thursday. The firm’s 50-day simple moving average is $3.06 and its 200-day simple moving average is $2.96. NRx Pharmaceuticals has a twelve month low of $1.62 and a twelve month high of $5.05. The firm has a market cap of $98.29 million, a P/E ratio of -4.13 and a beta of 2.07.

NRx Pharmaceuticals (NASDAQ:NRXP) last posted its earnings results on Friday, August 14th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.33). The company had revenue of $1.10 million for the quarter, compared to analyst estimates of $1.33 million. On average, equities analysts forecast that NRx Pharmaceuticals will post -1.14 earnings per share 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.