Analysts Set Neumora Therapeutics, Inc. (NASDAQ:NMRA) Price Target at $16.50

Neumora Therapeutics, Inc. (NASDAQ:NMRA) has received a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $16.50.

A number of analysts recently issued reports on NMRA shares. Royal Bank of Canada downgraded shares of Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $29.00 to $4.00 in a report on Thursday, January 2nd. Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a report on Thursday, January 2nd. William Blair restated an “outperform” rating on shares of Neumora Therapeutics in a report on Wednesday, January 15th. Bank of America decreased their price objective on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a report on Friday, February 14th.

Hedge Funds Weigh In On Neumora Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMRA. Capital International Investors boosted its position in Neumora Therapeutics by 692.1% during the fourth quarter. Capital International Investors now owns 3,700,359 shares of the company’s stock worth $39,224,000 after purchasing an additional 3,233,179 shares during the period. State Street Corp boosted its position in Neumora Therapeutics by 65.3% during the third quarter. State Street Corp now owns 1,790,707 shares of the company’s stock worth $23,655,000 after purchasing an additional 707,409 shares during the period. Geode Capital Management LLC boosted its position in Neumora Therapeutics by 54.0% during the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after purchasing an additional 694,385 shares during the period. Stempoint Capital LP bought a new position in shares of Neumora Therapeutics in the fourth quarter valued at approximately $4,538,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Neumora Therapeutics by 139.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock valued at $9,224,000 after acquiring an additional 406,891 shares during the period. Institutional investors own 47.65% of the company’s stock.

Neumora Therapeutics Price Performance

Shares of NMRA stock opened at $1.55 on Friday. Neumora Therapeutics has a one year low of $1.55 and a one year high of $21.00. The firm has a 50-day moving average of $3.58 and a 200-day moving average of $9.05. The company has a market cap of $250.42 million, a P/E ratio of -0.83 and a beta of 2.54.

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.