Neumora Therapeutics (NASDAQ:NMRA) Coverage Initiated at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Neumora Therapeutics (NASDAQ:NMRA) in a report released on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $23.00 price objective on the stock.

NMRA has been the topic of a number of other reports. Royal Bank of Canada restated an outperform rating and issued a $31.00 target price on shares of Neumora Therapeutics in a report on Thursday, March 28th. Mizuho initiated coverage on shares of Neumora Therapeutics in a report on Monday, July 8th. They issued an outperform rating and a $20.00 target price on the stock. Finally, William Blair restated an outperform rating on shares of Neumora Therapeutics in a report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Neumora Therapeutics presently has a consensus rating of Moderate Buy and an average target price of $22.33.

Neumora Therapeutics Trading Up 4.2 %

Neumora Therapeutics stock opened at $12.41 on Monday. Neumora Therapeutics has a 52 week low of $8.33 and a 52 week high of $21.00. The firm’s 50-day simple moving average is $10.11 and its 200 day simple moving average is $12.84.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.34) EPS for the quarter, hitting the consensus estimate of ($0.34). As a group, sell-side analysts predict that Neumora Therapeutics will post -1.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Amalgamated Bank purchased a new position in shares of Neumora Therapeutics during the 4th quarter worth about $29,000. Tower Research Capital LLC TRC acquired a new stake in Neumora Therapeutics during the 4th quarter worth approximately $44,000. Strs Ohio acquired a new stake in Neumora Therapeutics during the 4th quarter worth approximately $54,000. SG Americas Securities LLC acquired a new stake in Neumora Therapeutics during the 4th quarter worth approximately $108,000. Finally, New York State Common Retirement Fund acquired a new stake in Neumora Therapeutics during the 4th quarter worth approximately $118,000. 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.