NRx Pharmaceuticals (NASDAQ:NRXP) Coverage Initiated by Analysts at BTIG Research

BTIG Research assumed coverage on shares of NRx Pharmaceuticals (NASDAQ:NRXP) in a research note published on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $18.00 price target on the stock.

Several other research analysts also recently weighed in on NRXP. D. Boral Capital restated a “buy” rating and set a $31.00 price objective on shares of NRx Pharmaceuticals in a report on Monday, March 31st. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of NRx Pharmaceuticals in a research report on Thursday, March 20th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $28.25.

NRx Pharmaceuticals Price Performance

NASDAQ NRXP opened at $1.79 on Wednesday. NRx Pharmaceuticals has a one year low of $1.10 and a one year high of $6.01. The business has a 50 day simple moving average of $2.42 and a 200 day simple moving average of $2.05. The stock has a market capitalization of $30.28 million, a P/E ratio of -0.84 and a beta of 1.22.

NRx Pharmaceuticals (NASDAQ:NRXP) last released its quarterly earnings data on Friday, March 14th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.10). Equities analysts expect that NRx Pharmaceuticals will post -1.75 earnings per share for the current year.

Institutional Trading of NRx Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the stock. Sassicaia Capital Advisers LLC bought a new position in NRx Pharmaceuticals during the fourth quarter valued at $33,000. Townsquare Capital LLC purchased a new position in shares of NRx Pharmaceuticals during the 3rd quarter valued at $25,000. Squarepoint Ops LLC bought a new position in shares of NRx Pharmaceuticals during the 4th quarter worth $56,000. Millennium Management LLC bought a new position in shares of NRx Pharmaceuticals during the 4th quarter worth $61,000. Finally, Anson Funds Management LP increased its holdings in NRx Pharmaceuticals by 30.3% in the 4th quarter. Anson Funds Management LP now owns 185,660 shares of the company’s stock worth $408,000 after acquiring an additional 43,135 shares during the last quarter. Hedge funds and other institutional investors own 4.27% of the company’s stock.

About NRx Pharmaceuticals

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.