Laidlaw Initiates Coverage on NLS Pharmaceutics (NASDAQ:NCEL)

Equities researchers at Laidlaw initiated coverage on shares of NLS Pharmaceutics (NASDAQ:NCEL) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set a “buy” rating and a $23.00 price target on the stock. Laidlaw’s target price would indicate a potential upside of 448.93% from the stock’s previous close.

Separately, Weiss Ratings reiterated a “sell (e)” rating on shares of NLS Pharmaceutics in a report on Monday, June 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.00.

NLS Pharmaceutics Stock Performance

Shares of NCEL stock opened at $4.19 on Monday. The firm’s fifty day moving average price is $3.45 and its two-hundred day moving average price is $2.92. NLS Pharmaceutics has a 1 year low of $1.83 and a 1 year high of $28.03.

Insider Activity

In related news, Director Olivier Samuel purchased 81,818 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average price of $2.75 per share, for a total transaction of $224,999.50. Following the purchase, the director owned 81,818 shares in the company, valued at approximately $224,999.50. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michel Revel purchased 54,545 shares of the stock in a transaction on Monday, April 27th. The stock was bought at an average cost of $2.75 per share, for a total transaction of $149,998.75. Following the completion of the acquisition, the director owned 957,530 shares in the company, valued at approximately $2,633,207.50. This trade represents a 6.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 16.40% of the company’s stock.

About NLS Pharmaceutics

NLS Pharmaceutics (NASDAQ: NCEL) is a clinical-stage biopharmaceutical company headquartered in Zurich, Switzerland, with additional operations in the United States. The company focuses on the development of small-molecule therapies designed to address disorders of the circadian rhythm and sleep-wake cycle. It leverages proprietary controlled-release and receptor-targeting approaches to optimize drug exposure over a 24-hour period.

The core of NLS Pharmaceutics’ pipeline consists of novel melatonin receptor agonists aimed at treating rare and orphan sleep disorders such as non-24-hour sleep-wake disorder and idiopathic hypersomnia.