HC Wainwright Begins Coverage on NRx Pharmaceuticals (NASDAQ:NRXP)

Research analysts at HC Wainwright started coverage on shares of NRx Pharmaceuticals (NASDAQ:NRXP) in a report released on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $40.00 price target on the stock.

NRXP has been the topic of a number of other reports. D. Boral Capital reiterated a “buy” rating and set a $31.00 target price on shares of NRx Pharmaceuticals in a research note on Tuesday, August 19th. Wall Street Zen upgraded NRx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, BTIG Research restated a “buy” rating on shares of NRx Pharmaceuticals in a research note on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat, NRx Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $34.50.

NRx Pharmaceuticals Trading Up 9.3%

NASDAQ NRXP traded up $0.27 during mid-day trading on Monday, hitting $3.11. The company’s stock had a trading volume of 949,627 shares, compared to its average volume of 506,551. The company’s 50 day simple moving average is $2.82 and its 200 day simple moving average is $2.54. NRx Pharmaceuticals has a twelve month low of $1.10 and a twelve month high of $6.01. The firm has a market capitalization of $61.51 million, a price-to-earnings ratio of -1.39 and a beta of 1.63.

NRx Pharmaceuticals (NASDAQ:NRXP) last posted its quarterly earnings results on Monday, August 18th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.67). As a group, research analysts forecast that NRx Pharmaceuticals will post -1.75 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of NRx Pharmaceuticals by 27.9% in the second quarter. Geode Capital Management LLC now owns 172,255 shares of the company’s stock worth $562,000 after purchasing an additional 37,598 shares during the last quarter. Anson Funds Management LP grew its holdings in shares of NRx Pharmaceuticals by 535.1% in the first quarter. Anson Funds Management LP now owns 1,179,061 shares of the company’s stock worth $2,417,000 after purchasing an additional 993,401 shares during the last quarter. Squarepoint Ops LLC bought a new stake in NRx Pharmaceuticals in the fourth quarter valued at $56,000. Finally, Millennium Management LLC bought a new stake in NRx Pharmaceuticals in the fourth quarter valued at $61,000. 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.