Neumora Therapeutics’ (NMRA) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $30.00 target price on the stock. HC Wainwright also issued estimates for Neumora Therapeutics’ Q4 2024 earnings at ($0.46) EPS, FY2024 earnings at ($1.63) EPS, FY2025 earnings at ($1.76) EPS, FY2026 earnings at ($1.77) EPS, FY2027 earnings at ($1.37) EPS and FY2028 earnings at $0.03 EPS.

NMRA has been the subject of a number of other reports. Needham & Company LLC reiterated a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a research report on Wednesday. JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $18.00 to $15.00 in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.67.

Neumora Therapeutics Stock Performance

Shares of NASDAQ NMRA opened at $10.84 on Wednesday. The company has a market cap of $1.75 billion, a P/E ratio of -5.80 and a beta of 3.92. Neumora Therapeutics has a 52-week low of $8.33 and a 52-week high of $21.00. The firm’s fifty day moving average is $13.10 and its two-hundred day moving average is $11.42.

Neumora Therapeutics (NASDAQ:NMRA) last issued its earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.07). During the same period in the previous year, the company earned ($1.14) earnings per share. As a group, analysts forecast that Neumora Therapeutics will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Joshua Pinto sold 31,642 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $11.78, for a total value of $372,742.76. Following the sale, the chief financial officer now directly owns 154,658 shares of the company’s stock, valued at $1,821,871.24. This represents a 16.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $17.03, for a total transaction of $239,254.47. Following the completion of the sale, the director now directly owns 20,100 shares of the company’s stock, valued at approximately $342,303. The trade was a 41.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,538 shares of company stock worth $1,390,513 over the last three months. 26.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Neumora Therapeutics

Several hedge funds have recently bought and sold shares of the business. Amalgamated Bank lifted its position in shares of Neumora Therapeutics by 472.8% during the second quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after purchasing an additional 2,402 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Neumora Therapeutics by 35.0% in the third quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock worth $351,000 after purchasing an additional 6,900 shares during the last quarter. Quarry LP purchased a new position in Neumora Therapeutics in the 2nd quarter worth about $98,000. Intech Investment Management LLC bought a new stake in Neumora Therapeutics during the 3rd quarter valued at about $175,000. Finally, Ballentine Partners LLC purchased a new stake in Neumora Therapeutics in the 3rd quarter valued at about $178,000. 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.