Analyst Patrick Trucchio of H.C. Wainwright reiterated a Buy rating on NRX Pharmaceuticals, boosting the price target to $40.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors that highlight a supportive regulatory environment for NRX Pharmaceuticals. The recent FDA approval of UZEDY for bipolar disorder is seen as a positive indicator for NRx’s pipeline, particularly for their NRX-101 and NRX-100 products. This approval reflects the FDA’s pragmatic approach to neuropsychiatric drug reviews, which aligns with NRx’s strategy of using model-informed development and real-world data integration.
Furthermore, the FDA’s actions emphasize a policy focus on addressing serious mental health conditions, such as suicidality, which supports NRx’s regulatory pathway. The company’s plans to utilize real-world evidence and robust clinical trial data for their drug submissions are consistent with the FDA’s current stance, increasing confidence in the potential for accelerated approval. These factors, along with upcoming catalysts like the completion of the NDA for NRX-100 and ongoing progress for NRX-101, underpin the reiterated Buy rating and the $40 price target.