Neumora Therapeutics’ (NMRA) Buy Rating Reiterated at Needham & Company LLC

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating restated by Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $5.00 price objective on the stock. Needham & Company LLC’s price objective points to a potential upside of 255.87% from the company’s previous close.

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

Neumora Therapeutics Stock Down 9.9 %

NASDAQ:NMRA opened at $1.41 on Tuesday. Neumora Therapeutics has a 52-week low of $1.40 and a 52-week high of $21.00. The stock has a fifty day simple moving average of $3.20 and a 200-day simple moving average of $8.88. The company has a market capitalization of $226.99 million, a PE ratio of -0.75 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, beating the consensus estimate of ($0.46) by $0.09. As a group, equities analysts anticipate that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Institutional Investors Weigh In On Neumora Therapeutics

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