HC Wainwright Reiterates “Buy” Rating for NRx Pharmaceuticals (NASDAQ:NRXP)

NRx Pharmaceuticals (NASDAQ:NRXP)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $19.00 price objective on the stock.

Several other equities research analysts also recently commented on NRXP. D. Boral Capital restated a “buy” rating and issued a $31.00 target price on shares of NRx Pharmaceuticals in a research note on Tuesday, January 28th. Ascendiant Capital Markets raised their price objective on shares of NRx Pharmaceuticals from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, December 2nd.

NRx Pharmaceuticals Trading Up 9.9 %

NRXP stock traded up $0.21 during trading on Friday, hitting $2.28. The company had a trading volume of 81,474 shares, compared to its average volume of 447,487. The company has a fifty day moving average price of $3.03 and a two-hundred day moving average price of $2.02. NRx Pharmaceuticals has a fifty-two week low of $1.10 and a fifty-two week high of $6.01. The company has a market cap of $38.48 million, a P/E ratio of -1.06 and a beta of 1.22.

Insider Buying and Selling at NRx Pharmaceuticals

In other news, Chairman Jonathan C. Javitt purchased 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average cost of $1.17 per share, for a total transaction of $46,800.00. Following the transaction, the chairman now directly owns 84,634 shares of the company’s stock, valued at approximately $99,021.78. The trade was a 89.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 19.00% of the company’s stock.

Hedge Funds Weigh In On NRx Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in NRXP. AdvisorShares Investments LLC raised its holdings in shares of NRx Pharmaceuticals by 138.5% during 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 during the period. Anson Funds Management LP acquired a new stake in shares of NRx Pharmaceuticals in the 3rd quarter valued at about $241,000. Millennium Management LLC acquired a new position in shares of NRx Pharmaceuticals during the fourth quarter worth about $61,000. Squarepoint Ops LLC bought a new position in shares of NRx Pharmaceuticals during the fourth quarter worth about $56,000. Finally, Townsquare Capital LLC acquired a new stake in NRx Pharmaceuticals in the 3rd quarter valued at approximately $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.