NRx Pharmaceuticals (NASDAQ:NRXP) Stock Price Expected to Rise, BTIG Research Analyst Says

NRx Pharmaceuticals (NASDAQ:NRXP) had its target price hoisted by equities researchers at BTIG Research from $10.00 to $12.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research‘s price target indicates a potential upside of 391.80% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of NRx Pharmaceuticals in a research report on Tuesday, November 3rd. Zacks Research lowered NRx Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 26th. Wolfe Research assumed coverage on NRx Pharmaceuticals in a research report on Thursday, October 15th. They issued an “outperform” rating on the stock. UBS Group reiterated a “buy” rating on shares of NRx Pharmaceuticals in a report on Wednesday, August 26th. Finally, HC Wainwright reissued a “buy” rating on shares of NRx Pharmaceuticals in a research report on Tuesday, August 25th. Six investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $35.00.

NRx Pharmaceuticals Stock Performance

Shares of NRXP opened at $2.44 on Wednesday. The company has a market cap of $106.50 million, a price-to-earnings ratio of -4.44 and a beta of 2.11. The firm has a fifty day moving average of $2.87 and a 200-day moving average of $2.96. NRx Pharmaceuticals has a 1 year low of $1.62 and a 1 year high of $5.05.

NRx Pharmaceuticals (NASDAQ:NRXP) last issued its quarterly 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 firm had revenue of $1.10 million during the quarter, compared to analyst estimates of $1.33 million. Analysts predict that NRx Pharmaceuticals will post -1.14 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its position in NRx Pharmaceuticals by 30.0% in the third quarter. Commonwealth Equity Services LLC now owns 590,768 shares of the company’s stock worth $1,725,000 after purchasing an additional 136,350 shares during the period. Prime Capital Investment Advisors LLC bought a new stake in NRx Pharmaceuticals in the 3rd quarter valued at $364,000. SBI Securities Co. Ltd. increased its holdings in NRx Pharmaceuticals by 292.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 20,001 shares of the company’s stock valued at $58,000 after buying an additional 14,900 shares during the period. Squarepoint Ops LLC bought a new stake in NRx Pharmaceuticals in the 2nd quarter valued at $54,000. Finally, Ethos Financial Group LLC raised its stake 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 valued at $34,000 after buying an additional 4,000 shares in the last quarter. 4.27% of the stock is currently owned by institutional investors and hedge funds.

NRx Pharmaceuticals Company Profile

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.