In a report released yesterday, Thomas Shrader from BTIG maintained a Buy rating on NRX Pharmaceuticals, with a price target of $25.00.
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Thomas Shrader’s rating is based on a combination of factors including the promising potential of NRX Pharmaceuticals’ HOPE clinics and their innovative treatment approaches. These clinics aim to provide shorter, effective treatment regimens for high-risk groups such as emergency workers and military personnel, which aligns well with the company’s broader strategic goals. The HOPE network is in its early stages but shows significant growth potential, with management confident of expansion in the coming years.
Additionally, the company’s efforts in developing KETAFREE, a preservative-free ketamine, are noteworthy. The ongoing ANDA and NDA filings for KETAFREE suggest a strategic move to capture market share in the ketamine space, which is currently experiencing shortages. The potential approval of KETAFREE for major depressive disorders and PTSD could be a significant catalyst for NRX Pharmaceuticals, enhancing its market position and driving future growth.
NRXP’s price has also changed moderately for the past six months – from $3.670 to $2.350, which is a -35.97% drop .