BTIG Research Issues Positive Forecast for NRx Pharmaceuticals (NASDAQ:NRXP) Stock Price

NRx Pharmaceuticals (NASDAQ:NRXP) had its target price upped by BTIG Research from $10.00 to $12.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on NRXP. UBS Group restated a “buy” rating on shares of NRx Pharmaceuticals in a report on Wednesday, August 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NRx Pharmaceuticals in a report on Tuesday, November 3rd. HC Wainwright reissued a “buy” rating on shares of NRx Pharmaceuticals in a research report on Tuesday, August 25th. Wolfe Research assumed coverage on shares of NRx Pharmaceuticals in a research report on Thursday, October 15th. They issued an “outperform” rating on the stock. Finally, Wall Street Zen downgraded shares of NRx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Six research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

NRx Pharmaceuticals Stock Up 3.4%

NRXP stock opened at $2.44 on Wednesday. The stock has a market capitalization of $106.50 million, a price-to-earnings ratio of -4.44 and a beta of 2.11. NRx Pharmaceuticals has a 52-week low of $1.62 and a 52-week high of $5.05. The stock’s fifty day simple moving average is $2.87 and its 200-day simple moving average is $2.96.

NRx Pharmaceuticals (NASDAQ:NRXP) last released its earnings results on Friday, August 14th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.33). The company had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $1.33 million. As a group, analysts anticipate that NRx Pharmaceuticals will post -1.14 earnings per share for the current fiscal year.

Institutional Trading of NRx Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Ethos Financial Group LLC raised its holdings in NRx Pharmaceuticals by 33.6% in the first 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 during the period. Squarepoint Ops LLC purchased a new stake in NRx Pharmaceuticals during the second quarter worth approximately $54,000. SBI Securities Co. Ltd. grew its stake in NRx Pharmaceuticals by 292.1% during the third quarter. SBI Securities Co. Ltd. now owns 20,001 shares of the company’s stock worth $58,000 after buying an additional 14,900 shares during the period. Prime Capital Investment Advisors LLC purchased a new stake in NRx Pharmaceuticals during the third quarter worth approximately $364,000. Finally, Commonwealth Equity Services LLC increased its position in shares of 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 acquiring an additional 136,350 shares in the last quarter. Hedge funds and other institutional investors own 4.27% of the company’s stock.

About NRx Pharmaceuticals

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.