NRX Pharmaceuticals (NRXP) has received a new Buy rating, initiated by BTIG analyst, Thomas Shrader.
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Thomas Shrader has given his Buy rating due to a combination of factors surrounding NRX Pharmaceuticals’ innovative approach in addressing suicidal ideation and behavior (ASIB), a significant area of unmet medical need. The company’s development of an FDA-approved version of IV ketamine, NRX-100, aims to standardize treatment and improve patient outcomes. This formulation is enhanced by removing outdated preservatives, and its approval is supported by robust clinical trials demonstrating efficacy in reducing suicidal thoughts and depressive symptoms.
In addition to NRX-100, NRX Pharmaceuticals is advancing a combination therapeutic, NRX-101, which combines D-cycloserine and lurasidone to enhance efficacy while minimizing toxicity in bipolar patients. The establishment of the HOPE network, a series of treatment centers integrating ketamine-based and future psychedelic therapies, further strengthens the company’s position. These centers aim to provide comprehensive care, including non-therapeutic approaches, to improve ASIB treatment outcomes. The potential for FDA approvals and the innovative treatment model contribute to Shrader’s optimistic outlook on the company’s future prospects.
In another report released on March 20, H.C. Wainwright also reiterated a Buy rating on the stock with a $19.00 price target.