NRx Pharmaceuticals (NASDAQ:NRXP) Price Target Raised to $12.00

NRx Pharmaceuticals (NASDAQ:NRXP) had its price target boosted by BTIG Research from $10.00 to $12.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research‘s price objective indicates a potential upside of 391.80% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the company. UBS Group reissued a “buy” rating on shares of NRx Pharmaceuticals in a research report on Wednesday, August 26th. Wall Street Zen downgraded NRx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of NRx Pharmaceuticals in a report on Tuesday, November 3rd. HC Wainwright reaffirmed a “buy” rating on shares of NRx Pharmaceuticals in a research note on Tuesday, August 25th. Finally, Wolfe Research began coverage on NRx Pharmaceuticals in a report on Thursday, October 15th. They set an “outperform” rating for the company. Six investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

NRx Pharmaceuticals Stock Up 3.4%

NASDAQ:NRXP opened at $2.44 on Wednesday. The company has a market cap of $106.50 million, a P/E ratio of -4.44 and a beta of 2.11. The firm’s 50 day moving average is $2.87 and its two-hundred day moving average is $2.96. NRx Pharmaceuticals has a fifty-two week low of $1.62 and a fifty-two week high of $5.05.

NRx Pharmaceuticals (NASDAQ:NRXP) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.33). The firm had revenue of $1.10 million for the quarter, compared to the consensus estimate of $1.33 million. Research analysts forecast that NRx Pharmaceuticals will post -1.14 earnings per share for the current fiscal year.

Institutional Trading of NRx Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its stake in shares of NRx Pharmaceuticals by 30.0% during the third quarter. Commonwealth Equity Services LLC now owns 590,768 shares of the company’s stock worth $1,725,000 after purchasing an additional 136,350 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of NRx Pharmaceuticals in the third quarter valued at about $364,000. SBI Securities Co. Ltd. grew its stake in shares of NRx Pharmaceuticals by 292.1% in the third quarter. SBI Securities Co. Ltd. now owns 20,001 shares of the company’s stock valued at $58,000 after buying an additional 14,900 shares in the last quarter. Ethos Financial Group LLC raised its holdings in shares of NRx Pharmaceuticals by 33.6% during the 1st 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. Finally, Squarepoint Ops LLC purchased a new stake in shares of NRx Pharmaceuticals during the 2nd quarter valued at about $54,000. 4.27% of the stock is currently owned by institutional investors and hedge funds.

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.