Neumora Therapeutics (NASDAQ:NMRA) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research note published on Tuesday,Benzinga reports. They currently have a $5.00 price objective on the stock.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.00 price target on shares of Neumora Therapeutics in a research note on Tuesday, March 4th. HC Wainwright lowered their price target on shares of Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Stifel Nicolaus lowered shares of Neumora Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the company from $6.00 to $2.00 in a research note on Friday, March 7th. William Blair lowered shares of Neumora Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, March 10th. Finally, Guggenheim lowered shares of Neumora Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.29.

Neumora Therapeutics Trading Down 1.9%

NMRA opened at $0.68 on Tuesday. The stock has a market capitalization of $109.89 million, a P/E ratio of -0.36 and a beta of 2.96. Neumora Therapeutics has a 12 month low of $0.62 and a 12 month high of $17.19. The firm’s fifty day simple moving average is $0.89 and its 200 day simple moving average is $4.53.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.02). On average, equities research analysts predict that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Neumora Therapeutics during the 4th quarter worth about $61,000. PNC Financial Services Group Inc. acquired a new position in shares of Neumora Therapeutics during the 4th quarter worth about $64,000. Quantbot Technologies LP bought a new stake in shares of Neumora Therapeutics during the 4th quarter worth about $92,000. PEAK6 LLC bought a new stake in shares of Neumora Therapeutics during the 4th quarter worth about $117,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Neumora Therapeutics during the 4th quarter worth about $135,000. 47.65% of the stock is currently owned by institutional investors and hedge funds.

About Neumora Therapeutics

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.