Neumora Therapeutics (NASDAQ:NMRA) Stock Rating Upgraded by William Blair

Neumora Therapeutics (NASDAQ:NMRA) was upgraded by William Blair from a “market perform” rating to an “outperform” rating in a research report issued on Tuesday, Marketbeat.com reports.

A number of other analysts have also issued reports on the stock. Royal Bank Of Canada upgraded shares of Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $4.00 to $7.00 in a research note on Monday, December 1st. Guggenheim raised shares of Neumora Therapeutics from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Monday, October 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Neumora Therapeutics in a research note on Thursday, January 22nd. Leerink Partners began coverage on shares of Neumora Therapeutics in a research report on Monday, January 12th. They set an “outperform” rating and a $8.00 price target on the stock. Finally, Needham & Company LLC boosted their price objective on Neumora Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.13.

Neumora Therapeutics Price Performance

Shares of NASDAQ NMRA opened at $3.59 on Tuesday. The company has a quick ratio of 6.85, a current ratio of 6.85 and a debt-to-equity ratio of 0.15. Neumora Therapeutics has a fifty-two week low of $0.61 and a fifty-two week high of $3.65. The business has a 50 day moving average price of $2.15 and a two-hundred day moving average price of $2.05. The firm has a market cap of $599.85 million, a PE ratio of -2.44 and a beta of 3.20.

Hedge Funds Weigh In On Neumora Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMRA. Legacy Private Trust Co. bought a new stake in Neumora Therapeutics during the 3rd quarter valued at $25,000. Virtu Financial LLC acquired a new position in shares of Neumora Therapeutics during the third quarter valued at $31,000. Fred Alger Management LLC bought a new stake in shares of Neumora Therapeutics during the fourth quarter valued at about $40,000. Brookstone Capital Management acquired a new stake in Neumora Therapeutics in the third quarter worth about $42,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Neumora Therapeutics in the third quarter worth about $44,000. 47.65% of the stock is owned by institutional investors.

Neumora Therapeutics Company Profile

Neumora Therapeutics, headquartered in Cambridge, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing precision therapies for disorders of the central nervous system. The company applies an integrated approach that combines advanced biological insights, single-cell genomics and machine learning to accelerate the discovery and development of novel treatments for neurological and psychiatric diseases.

Neumora’s product pipeline spans small molecules, biologics and gene-based modalities targeting areas of high unmet need such as neurodegenerative conditions, mood and anxiety disorders, neuropathic pain and movement disorders.