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

BTIG Research initiated coverage on shares of NRx Pharmaceuticals (NASDAQ:NRXP) in a report released on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $18.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. D. Boral Capital reaffirmed a “buy” rating and set a $31.00 target price on shares of NRx Pharmaceuticals in a research note on Monday. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of NRx Pharmaceuticals in a research report on Thursday, March 20th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $28.25.

NRx Pharmaceuticals Price Performance

NRx Pharmaceuticals stock opened at $2.01 on Wednesday. The company has a market cap of $34.00 million, a P/E ratio of -0.94 and a beta of 1.22. NRx Pharmaceuticals has a fifty-two week low of $1.10 and a fifty-two week high of $6.01. The firm’s 50 day simple moving average is $2.47 and its 200-day simple moving average is $2.05.

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

Hedge Funds Weigh In On NRx Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in NRXP. AdvisorShares Investments LLC grew its position in NRx Pharmaceuticals by 138.5% in the fourth quarter. AdvisorShares Investments LLC now owns 310,314 shares of the company’s stock worth $683,000 after acquiring an additional 180,229 shares in the last quarter. Anson Funds Management LP bought a new stake in NRx Pharmaceuticals in the third quarter worth $241,000. Millennium Management LLC bought a new stake in NRx Pharmaceuticals in the fourth quarter worth $61,000. Squarepoint Ops LLC bought a new position in NRx Pharmaceuticals during the fourth quarter valued at about $56,000. Finally, Townsquare Capital LLC acquired a new stake in shares of NRx Pharmaceuticals in the third quarter worth about $25,000. Institutional investors and hedge funds own 4.27% of the company’s stock.

NRx Pharmaceuticals Company Profile

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.