Neumora Therapeutics (NASDAQ:NMRA) Receives Buy Rating from Needham & Company LLC

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They currently have a $5.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 249.65% from the stock’s current price.

Several other equities analysts have also recently issued reports on NMRA. Royal Bank of Canada cut Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $29.00 to $4.00 in a research note on Thursday, January 2nd. William Blair reissued an “outperform” rating on shares of Neumora Therapeutics in a research report on Wednesday, January 15th. JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a research note on Friday, February 14th. Finally, Bank of America decreased their price target on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Neumora Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Neumora Therapeutics Stock Up 1.4 %

Shares of NMRA opened at $1.43 on Tuesday. The firm has a fifty day simple moving average of $2.83 and a two-hundred day simple moving average of $8.76. Neumora Therapeutics has a twelve month low of $1.35 and a twelve month high of $21.00. The stock has a market capitalization of $231.03 million, a P/E ratio of -0.76 and a beta of 2.50.

Neumora Therapeutics (NASDAQ:NMRA) last posted its earnings results on Thursday, March 6th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.09. Sell-side analysts expect that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NMRA. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Neumora Therapeutics in the fourth quarter worth about $61,000. PNC Financial Services Group Inc. bought a new stake in shares of Neumora Therapeutics in the 4th quarter worth approximately $64,000. Quantbot Technologies LP purchased a new stake in shares of Neumora Therapeutics in the 4th quarter worth approximately $92,000. PEAK6 LLC purchased a new stake in shares of Neumora Therapeutics in the 4th quarter worth approximately $117,000. Finally, EntryPoint Capital LLC bought a new position in Neumora Therapeutics during the 4th quarter valued at approximately $135,000. 47.65% of the stock is owned by hedge funds and other institutional investors.

Neumora Therapeutics Company Profile

Neumora Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutic treatments for brain diseases, neuropsychiatric disorders, and neurodegenerative diseases. The company develops navacaprant (NMRA-140), a novel once-daily oral kappa opioid receptor antagonist, which is in phase 3 clinical trials for the treatment of major depressive disorder.