NRx Pharmaceuticals initiated with a Buy at EF Hutton

EF Hutton initiated coverage of NRx Pharmaceuticals (NRXP) with a Buy rating and $31 price target NRx has “a vision to address the national crisis around suicide and PTSD” and is working to introduce the first NMDA-targeted drugs, engineered to eliminate the typical side effects of hallucinations, neurotoxicity, and akathisia, all of which limit efficacy. NRX-101 has shown its potential to act rapidly in reducing Acute Suicidal Ideation and Behavior, or ASIB, notes the analyst, who adds that the drug has the potential to expand to bipolar depression and PTSD-suicide. NRX is also seeking approval for NRX-100, an optimized and tamper-resistant formulation of ketamine, with a label and insurance, the analyst added.