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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#4223
Positioning
Market Dominance
Manufacturing
Pharmaceutical Products
$65M
Stephen H. Willard
NRX Pharmaceuticals, Inc. develops novel therapeutics for the treatment of central nervous system disorders and life-threatening pulmonary diseases. Its products include ZYESAMI, an investigational drug that has completed a Phase IIb/III clinical study for COVID-19 related respiratory failure.
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| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$UL UNILEVER PLC | 78 | 96 | 98 | 59 | - | - | 28.5% | 8.0% | 100.0% | 100.0% | 10.4% | -4.6% | 3.3% | 0.0x | $141.8B | VS | |
$ASML ASML HOLDING NV | 77 | 89 | 86 | 83 | - | - | 46.1% | 16.6% | 51.3% | 31.9% | 26.8% | -4.0% | 1.0% | 25.0x | $272.1B | VS | |
$ESLT ELBIT SYSTEMS LTD | 76 | 81 | 87 | 85 | - | - | 10.3% | 3.1% | 24.1% | 7.2% | 4.7% | 14.3% | 0.8% | 25.0x | $11.4B | VS | |
$MT ArcelorMittal | 75 | 71 | 98 | 85 | - | - | 2.2% | 1.5% | 9.3% | 5.3% | 2.2% | -8.5% | 2.2% | 16.0x | $18.9B | VS | |
$AMAT APPLIED MATERIALS INC /DE | 75 | 85 | 87 | 84 | 20.9x | 13.6x | 35.5% | 19.8% | 48.7% | 29.2% | 24.7% | 4.4% | 0.8% | 32.0x | $181.9B | VS | |
$SIMO Silicon Motion Technology CORP | 75 | 84 | 86 | 85 | - | - | 11.8% | 8.8% | 45.9% | 11.3% | 11.1% | 25.7% | 3.7% | 0.0x | $1.8B | VS | |
$CODA Coda Octopus Group, Inc. | 74 | 83 | 90 | 79 | 16.3x | 11.9x | 7.6% | 7.0% | 66.5% | 17.1% | 15.6% | 39.0% | 0.0% | 0.0x | $115M | VS | |
$GSK GSK plc | 74 | 84 | 90 | 70 | - | - | 22.6% | 4.9% | 71.2% | 12.8% | 9.4% | 1.7% | 5.9% | 124.0x | $72.1B | VS | |
$EFXT Enerflex Ltd. | 74 | 80 | 91 | 83 | - | - | 3.0% | 1.1% | 20.9% | 7.3% | 1.3% | 3.0% | 0.9% | 67.0x | $1.2B | VS | |
$BUD Anheuser-Busch InBev SA/NV | 74 | 84 | 97 | 63 | - | - | 8.2% | 3.5% | 55.3% | 25.9% | 12.4% | 0.7% | 1.7% | 0.0x | $87.0B | VS | |
$NRXP NRX Pharmaceuticals, Inc. | 34 | 33 | 43 | 22 | - | - | 100.6% | -245.9% | 59.9% | -1662.8% | -2433.9% | - | 0.0% | - | $65M | ||
| SECTOR BENCH | - | - | - | - | - | 22.3x | 11.5x | -2.5% | -0.1% | 42.5% | 1.3% | -0.2% | 5.9% | 0.0% | 0.2x | - | REF |
NRX Pharmaceuticals, Inc. (NRXP) receives a "Avoid" rating with a composite score of 33.8/100. It ranks #4223 out of 7,333 stocks in our coverage universe and carries a 1-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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Core pricing power
Operating efficiency
Bottom-line conversion
Equity capital efficiency
Asset base utilization
Direct cash return
Stephen H. Willard
Chief Executive Officer
33
16
41
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for NRXP
Lagging peers — losers tend to keep underperforming
Fair valuation relative to peers
Weak fundamentals — higher risk of value trap
Average volatility — neutral timing signal
Aggressive spending — empire-building risk, dilutive growth
Below-average composite — caution warranted
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Relative valuation derived from Manufacturing sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
No analyst ratings for NRXP.
View All RatingsInsufficient data for Financial Analysis
ROE proxy 100.6% (sector -2.5%)
GM 60% vs sector 43%, OM -1663% vs sector 1%
Capital turnover N/A, R&D intensity 1330.6%
Rev growth N/A, 7yr history
Interest coverage N/A
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
Our quantitative model flags NRX Pharmaceuticals, Inc. with an Avoid rating, assigning a composite score of 33.8/100 and 1 out of 5 stars. Ranked #4223 of 7,333 stocks, NRXP falls in the bottom tier across key factors. Historically, stocks with this profile have faced elevated risk of underperformance and capital loss.
NRXP's quality score of 33/100 is below average, suggesting challenges with profitability or capital efficiency. The company reports a return on equity of 100.6% (sector avg: -2.5%), gross margins of 59.9% (sector avg: 42.5%), net margins of -2433.9% (sector avg: -0.2%). Investors should examine whether management is actively addressing these weaknesses or if they reflect structural industry headwinds.
With a value score of 43/100, NRXP appears somewhat expensive relative to its fundamentals. Investors paying a premium here are likely betting on above-average growth or margin expansion to justify current prices.
NRX Pharmaceuticals, Inc.'s investment score of 16/100 suggests limited reinvestment activity. Key growth metrics include a return on assets of -245.9% (sector: -0.1%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
NRX Pharmaceuticals, Inc. is experiencing notably weak momentum with a score of just 22/100. The stock has underperformed its peers and is trending below major moving averages. Revenue growth data is not currently available, while a beta of 1.17 reflects its sensitivity to broader market moves. While deep momentum weakness can occasionally present value opportunities, it often reflects deteriorating fundamentals or structural headwinds that may persist.
NRXP's stability score of 41/100 signals elevated volatility and/or leverage concerns. Key stability metrics include a beta of 1.17. Investors should be prepared for wider-than-average price swings and consider position sizing accordingly to manage portfolio risk.
NRXP carries a short interest score of 64/100, indicating moderate short selling activity. This is a neutral reading — not enough to signal systemic bearishness, but worth monitoring. Specific risk factors include micro-cap liquidity risk. At $65M market cap (micro-cap), NRX Pharmaceuticals, Inc. offers reasonable institutional liquidity.
NRX Pharmaceuticals, Inc. is a micro-cap company in the Manufacturing sector, ranked #0 of 50 in its sector (100th percentile) and #4223 of 7,333 overall (42nd percentile). Key comparisons include ROE of 100.6% exceeding the -2.5% sector median and operating margins of -1662.8% below the 1.3% sector average. This top-quartile standing reflects exceptional competitive strength relative to Manufacturing peers.
While NRXP currently exhibits a AVOID profile, superior opportunities exist within the MANUFACTURING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
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Improvement in Investment (16) would have the largest impact on the composite score.
ROE 4156% BELOW SECTOR MEDIAN
Gross Margin 41% ABOVE SECTOR MEDIAN (FAVORABLE)
Op. Margin 129000% BELOW SECTOR MEDIAN
AUDIT DATA AS OF SEP 30, 2025 (Q2 FY2025)
We rate NRX Pharmaceuticals, Inc. (NRXP) as Avoid with a composite score of 33.8/100 at a current price of $1.88. The stock falls in the bottom quintile of our universe across key quantitative factors, and the multi-factor weakness suggests a high probability of continued underperformance.
The rating is primarily driven by strength in value (43th percentile) and stability (41th percentile), which together account for the majority of the composite score. Offsetting weakness in investment (16th percentile) and momentum (22th percentile) tempers our overall conviction. We assign a No Moat rating (38/100), High uncertainty, and Poor capital allocation.
Key items to watch: momentum to confirm whether the current price trend has legs; the path to profitability. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
NRX Pharmaceuticals, Inc. holds a top-quartile position (#0 of 50) within the Manufacturing sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 33.8/100 places it at rank #4223 in our full 7,333-stock universe. At $65M in market capitalization, NRX Pharmaceuticals, Inc. is a small-cap player in the Manufacturing space, which limits certain scale advantages but may allow for more agile strategic execution.
Momentum indicators (22th percentile) suggest caution regarding the near-term price trend. Revenue growth data is unavailable, limiting our ability to confirm whether momentum is fundamentally supported.
The margin cascade tells an important story: gross margins of 60% (+17.4pp vs sector) narrow to operating margins of -1663% (-1664.1pp vs sector) and net margins of -2433.9%, yielding a gross-to-net conversion rate of -4062%. The significant margin erosion from gross to net suggests elevated operating expenses, high interest costs, or other structural drags that warrant monitoring.
At a current price of $1.88, NRX Pharmaceuticals, Inc. is trading near fair value based on current fundamentals. Our value factor score of 43/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. Valuation metrics are mixed, with no strong signal of mispricing in either direction.
The stock currently trades at P/S of 225.1x. We evaluate these multiples in the context of both absolute levels and sector-relative positioning to form our valuation view.
Gross margins of 60% signal strong pricing power and brand/IP advantages — businesses with margins above 40% have historically demonstrated more resilient earnings through economic cycles.
Returns on equity of 100.6% exceed the cost of equity for most companies, indicating genuine shareholder value creation and a reinvestment engine that compounds wealth over time.
The Avoid rating (composite 33.8/100) reflects multi-factor weakness, and historically, stocks in this scoring range have underperformed the market by a meaningful margin.
Thin net margins of -2433.9% provide limited cushion against cost pressures, competitive pricing, or macroeconomic headwinds — even small changes in costs could swing the company to a loss.
Weak momentum (22th percentile) suggests institutional selling pressure and unfavorable technical dynamics that may persist.
We assign a High uncertainty rating to NRX Pharmaceuticals, Inc.. Key risk factors include current negative profitability (net margin -2433.9%), weak quality scores (33th percentile). The wide range of potential outcomes widens our fair value estimate and increases the possibility of permanent capital impairment. Investors considering this name should size positions accordingly and demand a meaningful margin of safety before initiating.
Specific risk factors that inform our assessment include: current negative profitability (net margin -2433.9%); weak quality scores (33th percentile). Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 41th percentile and quality factor at the 33th percentile provide a quantitative summary of the overall risk landscape.
Key risk mitigants include: healthy gross margins of 60% provide a buffer against cost pressures. These factors partially offset the identified risks and provide downside protection in adverse scenarios. On balance, the risk-reward profile warrants caution and disciplined position management.
We rate NRX Pharmaceuticals, Inc.'s capital allocation as Poor. Key concerns include negative profitability, weak asset returns (ROA -245.9%). Exemplary capital allocators generate ROE above 20% and maintain conservative leverage — NRX Pharmaceuticals, Inc. significantly underperforms these benchmarks, raising questions about management's ability to create shareholder value.
Investors should scrutinize management's reinvestment decisions and balance sheet trajectory before committing capital. Poor capital allocation often compounds over time: overlevered balance sheets limit strategic flexibility, while low returns on capital destroy shareholder value. We would need to see sustained improvement in profitability metrics and balance sheet discipline before considering an upgrade.
In summary, NRX Pharmaceuticals, Inc. receives a Avoid rating with a composite score of 33.8/100 (rank #4223 of 7,333). Our quantitative framework assigns a No Moat (38/100, trend: stable), High uncertainty, and Poor capital allocation. The average factor score across quality, value, momentum, stability, and investment is 31/100.
Our analysis does not support a constructive view on NRX Pharmaceuticals, Inc. at this time. The combination of limited competitive advantages, high uncertainty, and poor capital allocation suggests unfavorable risk-reward at current levels. We recommend investors avoid new positions and existing holders consider reducing exposure.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We do not assign NRX Pharmaceuticals, Inc. a meaningful economic moat, scoring 38/100 on our composite assessment. Current fundamentals do not demonstrate the kind of durable competitive advantages — such as superior returns on invested capital, margin superiority, or reinvestment efficiency — that would protect the company from competitive erosion over the long term. The highest-scoring pillar, economic value creation, reached only 17.5/20.
The strongest moat sources are economic value creation (17.5/20) and margin superiority (9/20). ROE proxy 100.6% (sector -2.5%). GM 60% vs sector 43%, OM -1663% vs sector 1%. These pillars form the core of NRX Pharmaceuticals, Inc.'s competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include growth durability (2/20) and financial resilience (2.5/20). Rev growth N/A, 7yr history. Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect NRX Pharmaceuticals, Inc.'s moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers include gross margins of 60% providing a solid profitability foundation, returns on equity of 100.6% driving shareholder value creation. The margin cascade from 60% gross to -1663% operating to -2433.9% net reveals the company's cost structure and reinvestment intensity. Our analysis indicates that profit quality raises some durability concerns, with the quality factor at the 33th percentile.
The margin profile shows gross margins of 60%, operating margins of -1663%, net margins of -2433.9%. Return metrics include ROE of 100.6% and ROA of -245.9%. Relative to the Manufacturing sector, gross margins are 17.4 percentage points above the sector median of 43%, and ROE of 100.6% compares to a sector median of -2.5%.
Balance sheet data is limited, restricting our assessment of financial resilience. Investors should seek additional disclosure on leverage and liquidity before forming a complete view of financial health.
Below-average quality (33th percentile) raises durability concerns about the fundamental profile and increases the risk of negative earnings surprises.
Above 50MA
37.18%
Net New Highs
+51081
NRx together with Osmind, Inc. conducted an in-person meeting attended by leadership of the FDA Division of Psychiatry Products and leadership of the FDA Center for Drug Evaluation and Research (CDER)Oral guidance received at the meeting provides a path to filing an application for New Drug Approval of NRX-100 under already-awarded Fast Track Designation based on existing clinical trial data and Real World EvidenceBased on the guidance, NRx will seek a broader proposed indication for NRX-100 to
HOPE Therapeutics, a subsidiary of NRx Pharmaceuticals, acquired a strategic interest in Cohen and Associates, a premier interventional psychiatry clinic in Florida. Dr. Rebecca Cohen was appointed as HOPE's Medical Director, bringing expertise in TMS and psychiatric treatments.
NRx Pharmaceuticals announced that the FDA has granted a filing fee waiver for its upcoming NRX-100 (preservative-free ketamine) New Drug Application to treat suicidal depression. The waiver will enable the company to complete the NDA filing with its current resources.
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