Neumora Therapeutics, Inc. (NASDAQ:NMRA) Receives $16.50 Average Target Price from Analysts

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $16.50.

Several analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. Royal Bank of Canada lowered shares of Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $29.00 to $4.00 in a research report on Thursday, January 2nd. Bank of America decreased their target price on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a research report on Friday, January 3rd.

Neumora Therapeutics Trading Up 0.5 %

NMRA stock opened at $1.93 on Monday. The company has a market cap of $311.81 million, a P/E ratio of -1.03 and a beta of 2.71. Neumora Therapeutics has a 52 week low of $1.83 and a 52 week high of $21.00. The company’s 50-day moving average price is $6.77 and its 200 day moving average price is $10.39.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same quarter last year, the business posted ($1.14) EPS. On average, equities research analysts expect that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Hedge Funds Weigh In On Neumora Therapeutics

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in shares of Neumora Therapeutics by 54.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock valued at $26,159,000 after acquiring an additional 694,385 shares during the period. Barclays PLC increased its stake in Neumora Therapeutics by 352.9% during the 3rd quarter. Barclays PLC now owns 129,210 shares of the company’s stock worth $1,708,000 after buying an additional 100,678 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Neumora Therapeutics by 139.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock worth $9,224,000 after buying an additional 406,891 shares during the period. Point72 Asset Management L.P. purchased a new stake in Neumora Therapeutics during the 3rd quarter worth $1,097,000. Finally, The Manufacturers Life Insurance Company increased its stake in Neumora Therapeutics by 79.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company’s stock worth $1,099,000 after buying an additional 49,527 shares during the period. 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.