NRX Pharmaceuticals: Strategic Positioning and Market Potential Drive Buy Rating

Analyst Thomas Shrader from BTIG maintained a Buy rating on NRX Pharmaceuticals (NRXP – Research Report) and keeping the price target at $18.00.

Thomas Shrader has given his Buy rating due to a combination of factors that highlight NRX Pharmaceuticals’ strategic positioning and potential market impact. A significant aspect is the company’s recent filing of an ANDA for a preservative-free form of ketamine, which could become the only approved version if their citizen’s petition succeeds. This move is crucial as it positions NRXP to capture a substantial share of the ketamine market, which is currently valued at approximately $1 billion, especially given the current shortage of the drug.
Moreover, NRX Pharmaceuticals is actively working to expand the use of ketamine into new therapeutic areas such as suicidality and potentially major depressive disorder (MDD). The company’s strategic partnerships and collaborations with organizations like Kadima Neuroscience Institute and others further strengthen its market presence. Additionally, the recent patent filing for NRX-100, which could protect the drug until 2045, underscores the company’s innovative approach and potential for long-term growth. These factors collectively contribute to Shrader’s positive outlook and Buy rating for NRXP.

According to TipRanks, Shrader is a 2-star analyst with an average return of 0.3% and a 34.48% success rate. Shrader covers the Healthcare sector, focusing on stocks such as Novavax, NRX Pharmaceuticals, and Coya Therapeutics, Inc..