HC Wainwright Has Bearish Outlook for NMRA FY2024 Earnings

Neumora Therapeutics, Inc. (NASDAQ:NMRA) – Investment analysts at HC Wainwright reduced their FY2024 earnings estimates for Neumora Therapeutics in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst D. Tsao now forecasts that the company will post earnings of ($1.63) per share for the year, down from their prior forecast of ($1.37). HC Wainwright has a “Buy” rating and a $30.00 price objective on the stock. The consensus estimate for Neumora Therapeutics’ current full-year earnings is ($1.48) per share. HC Wainwright also issued estimates for Neumora Therapeutics’ Q4 2024 earnings at ($0.46) 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.

A number of other analysts have also weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research note on Wednesday. JPMorgan Chase & Co. cut 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 reiterated an “outperform” rating and set a $29.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Neumora Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $21.67.

Neumora Therapeutics Stock Performance

Shares of NMRA opened at $10.84 on Friday. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -5.80 and a beta of 3.92. The stock has a fifty day moving average price of $13.10 and a two-hundred day moving average price of $11.44. Neumora Therapeutics has a 52-week low of $8.33 and a 52-week high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same quarter in the prior year, the company posted ($1.14) EPS.

Insiders Place Their Bets

In other Neumora Therapeutics news, insider Robert A. Lenz sold 5,563 shares of Neumora Therapeutics stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total transaction of $83,500.63. Following the completion of the sale, the insider now owns 322,966 shares of the company’s stock, valued at approximately $4,847,719.66. The trade was a 1.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joshua Pinto sold 31,642 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $11.78, for a total value of $372,742.76. Following the completion of the transaction, the chief financial officer now directly owns 154,658 shares in the company, valued at approximately $1,821,871.24. This trade represents a 16.98 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 110,538 shares of company stock valued at $1,390,513. 26.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neumora Therapeutics

Several institutional investors have recently modified their holdings of NMRA. Amalgamated Bank raised its position in shares of Neumora Therapeutics by 472.8% in the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after acquiring an additional 2,402 shares during the period. Quarry LP acquired a new position in Neumora Therapeutics in the second quarter valued at about $98,000. SkyOak Wealth LLC acquired a new position in shares of Neumora Therapeutics in the 2nd quarter valued at approximately $147,000. Principal Financial Group Inc. acquired a new stake in Neumora Therapeutics during the 2nd quarter worth approximately $166,000. Finally, Intech Investment Management LLC bought a new position in Neumora Therapeutics in the third quarter valued at approximately $175,000. 47.65% of the stock is currently owned by institutional investors and hedge funds.

About Neumora Therapeutics

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.