Needham & Company LLC Reaffirms “Buy” Rating for Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $5.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 255.87% from the stock’s previous close.

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

Neumora Therapeutics Trading Down 9.9 %

Shares of NASDAQ NMRA opened at $1.41 on Tuesday. The stock has a market cap of $226.99 million, a P/E ratio of -0.75 and a beta of 2.50. Neumora Therapeutics has a twelve month low of $1.40 and a twelve month high of $21.00. The stock has a 50 day moving average of $3.20 and a two-hundred day moving average of $8.88.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.09. As a group, research analysts predict that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Institutional Trading of Neumora Therapeutics

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Neumora Therapeutics by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 4,572,308 shares of the company’s stock valued at $48,466,000 after acquiring an additional 195,142 shares during the period. Capital International Investors lifted its stake in shares of Neumora Therapeutics by 692.1% in the fourth quarter. Capital International Investors now owns 3,700,359 shares of the company’s stock valued at $39,224,000 after purchasing an additional 3,233,179 shares during the period. Geode Capital Management LLC lifted its stake in shares of Neumora Therapeutics by 54.0% in the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock valued at $26,159,000 after purchasing an additional 694,385 shares during the period. State Street Corp boosted its holdings 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 buying an additional 707,409 shares in the last quarter. Finally, Rock Springs Capital Management LP grew its position in Neumora Therapeutics by 15.3% during the fourth quarter. Rock Springs Capital Management LP now owns 955,106 shares of the company’s stock worth $10,124,000 after buying an additional 127,005 shares during the period. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

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.