Analyst Vernon Bernardino of H.C. Wainwright reiterated a Buy rating on NRX Pharmaceuticals (NRXP – Research Report), with a price target of $19.00.
Vernon Bernardino has given his Buy rating due to a combination of factors that highlight NRX Pharmaceuticals’ strategic advancements and financial positioning. The company’s efforts to integrate transcranial magnetic stimulation (TMS) with neuromodulatory (NM) therapy through its subsidiary, Hope Therapeutics, are seen as promising. Hope Therapeutics is focused on providing innovative treatments for suicidal depression and PTSD, and its expansion into digital therapeutics, recently authorized by the FDA, is viewed positively.
Additionally, NRX Pharmaceuticals is making significant progress with its proprietary IV ketamine formulation, NRX-100, which is on the regulatory path for approval as a treatment for suicidal depression. The company’s recent financial maneuvers, including securing substantial funding and planning acquisitions that could generate significant revenue, position it well for future growth. With a target of achieving $100 million in revenue by 2025 and the potential profitability at $38 million in revenue, Bernardino sees these developments as underappreciated by the market, reinforcing his Buy rating and $19 price target.
Bernardino covers the Healthcare sector, focusing on stocks such as Aethlon Medical, Humacyte, and Candel Therapeutics. According to TipRanks, Bernardino has an average return of -0.5% and a 23.53% success rate on recommended stocks.
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