Neumora Therapeutics, Inc. (NASDAQ:NMRA) Receives $9.29 Consensus Target Price from Analysts

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) have received an average recommendation of “Hold” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $9.29.

Several equities research analysts recently issued reports on the stock. William Blair cut shares of Neumora Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, March 10th. Guggenheim lowered shares of Neumora Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, March 7th. Bank of America reiterated an “underperform” rating and issued a $1.00 price objective (down from $7.00) on shares of Neumora Therapeutics in a research report on Wednesday, April 2nd. Needham & Company LLC reissued a “buy” rating and set a $5.00 target price on shares of Neumora Therapeutics in a research note on Thursday, April 10th. Finally, HC Wainwright decreased their price target on Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th.

Neumora Therapeutics Price Performance

Shares of Neumora Therapeutics stock opened at $0.66 on Wednesday. The stock’s 50 day simple moving average is $0.92 and its 200-day simple moving average is $4.75. The stock has a market cap of $107.21 million, a P/E ratio of -0.35 and a beta of 2.96. Neumora Therapeutics has a 1-year low of $0.62 and a 1-year high of $17.19.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data 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. As a group, research analysts expect that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Neumora Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC increased its stake in Neumora Therapeutics by 352.9% during the third quarter. Barclays PLC now owns 129,210 shares of the company’s stock worth $1,708,000 after purchasing an additional 100,678 shares during the period. JPMorgan Chase & Co. increased its stake in Neumora Therapeutics by 2.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 64,421 shares of the company’s stock worth $851,000 after buying an additional 1,629 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in Neumora Therapeutics during the 4th quarter worth approximately $363,000. SkyOak Wealth LLC boosted its position in Neumora Therapeutics by 33.3% in the 4th quarter. SkyOak Wealth LLC now owns 20,000 shares of the company’s stock valued at $212,000 after buying an additional 5,000 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Neumora Therapeutics during the fourth quarter worth $61,000. Hedge funds and other institutional investors own 47.65% of the company’s stock.

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.