H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating on NRX Pharmaceuticals today and set a price target of $40.00.
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Patrick Trucchio’s rating is based on NRX Pharmaceuticals reaching a pivotal stage in its development, marked by significant advancements in its regulatory applications and a transition towards becoming a revenue-generating entity. The company has made notable progress with the refiling of the KETAFREE Abbreviated New Drug Application and is moving forward with New Drug Application filings for NRX-100 and NRX-101. Additionally, NRX-101 is being developed as an augmentation therapy for conditions such as depression and PTSD, which could broaden its market potential.
Moreover, the recent acquisition of Dura Medical has enabled NRX Pharmaceuticals to report revenue for the first time, signaling a positive shift in its financial trajectory. The company holds sufficient cash reserves to support its operations through key milestones, including expected NDA filings and regulatory dates. The potential of NRX-100 to address a significant unmet medical need in treating suicidal ideation, coupled with its promising real-world evidence, positions it as a strong candidate for FDA approval. These factors collectively contribute to Trucchio’s Buy rating and a price target of $40 for NRXP.
In another report released on November 17, BTIG also maintained a Buy rating on the stock with a $25.00 price target.