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On Thursday, H.C. Wainwright reaffirmed a positive stance on NRx Pharmaceuticals, Inc. (NASDAQ:NRXP), maintaining a Buy rating and a $19.00 price target. Currently trading at $2.18 with a market cap of $36.8 million, the stock has attracted strong analyst support, with consensus targets ranging from $19 to $45. The endorsement follows NRx Pharmaceuticals’ announcement of its fourth-quarter financial results on March 17, 2025, and the notable progress in the company’s business strategy.According to InvestingPro analysis, investors should note that while analyst sentiment remains positive, the company faces some financial challenges. InvestingPro offers 8 additional key insights about NRXP’s investment potential.
The company has made significant strides, particularly with the advancement of its drug applications. NRx Pharmaceuticals has filed an abbreviated New Drug Application (ANDA) for NRX-100, a sterile, preservative-free formulation of intravenous ketamine (IVK), which is expected to be stable over the long term. Additionally, the company has submitted a New Drug Application (NDA) for accelerated approval of NRX-101, a patented combination therapy consisting of the NMDA antagonist D-cycloserine and lurasidone.
The firm’s analyst highlighted the potential for these developments to lead to Food and Drug Administration (FDA) Prescription Drug User Fee Act (PDUFA) action dates, which could propel NRX-100 and NRX-101 toward commercialization by the end of 2025. While the company’s EBITDA stands at -$19.7 million for the last twelve months, the analyst’s outlook is buoyed by the company’s proactive steps to expand its operations, including the planned acquisitions of additional psychiatry clinics to bolster its Hope Therapeutics subsidiary.
The filing of the ANDA for NRX-100 is particularly noted as a positive catalyst expected in the second quarter of 2025. The analyst’s reiterated Buy rating and the $19 price target reflect confidence in NRx Pharmaceuticals’ trajectory and its potential to achieve these milestones in the near future.
NRx Pharmaceuticals’ strategic moves are part of a broader effort to strengthen its position in the market, with the aim of delivering new therapeutic options in the field of psychiatry. The company’s progress and the analyst’s reiterated support underscore a period of growth and development for NRx Pharmaceuticals as it navigates the regulatory landscape and seeks to bring its products to market.
In other recent news, NRx Pharmaceuticals reported a notable reduction in operational losses for the fourth quarter of 2024, cutting losses by 33.5% to $18.5 million. Research and development expenses also saw a significant decrease of 53.6%, amounting to $6.2 million. The company has initiated New Drug Application (NDA) filings for key products, NRX100 and NRX101, indicating progress in their product pipeline. NRx Pharmaceuticals plans to acquire 15-20 psychiatric clinics in Florida by the end of 2025, aiming to enhance its clinic network. The company projects 30% operating margins for these clinics and anticipates independent funding for its subsidiary, Hope Therapeutics. Despite these developments, NRx Pharmaceuticals experienced a 6.28% decline in stock price in premarket trading. CEO Jonathan Javitt highlighted the company’s strategic moves, including the non-dilutive funding for Hope Therapeutics, to enhance shareholder value. The company remains optimistic about achieving profitability by the end of 2025.
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