Neumora Therapeutics (NASDAQ:NMRA) Receives “Buy” Rating from Needham & Company LLC

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They currently have a $5.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. HC Wainwright cut their target price on shares of Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Bank of America reissued an “underperform” rating and set a $1.00 price target (down previously from $7.00) on shares of Neumora Therapeutics in a research report on Wednesday, April 2nd. Stifel Nicolaus cut shares of Neumora Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the stock from $6.00 to $2.00 in a research note on Friday, March 7th. Guggenheim cut shares of Neumora Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, March 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $4.00 price target on shares of Neumora Therapeutics in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Neumora Therapeutics has an average rating of “Hold” and an average target price of $9.29.

Neumora Therapeutics Stock Performance

NASDAQ NMRA opened at $0.76 on Thursday. Neumora Therapeutics has a 52 week low of $0.62 and a 52 week high of $17.19. The stock has a market capitalization of $122.41 million, a price-to-earnings ratio of -0.40 and a beta of 2.89. The stock’s 50 day moving average price is $1.37 and its two-hundred day moving average price is $6.80.

Neumora Therapeutics (NASDAQ:NMRA) last issued its earnings results on Thursday, March 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.09. On average, equities research analysts forecast that Neumora Therapeutics will post -1.61 EPS for the current year.

Hedge Funds Weigh In On Neumora Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of Neumora Therapeutics by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 64,421 shares of the company’s stock worth $851,000 after acquiring an additional 1,629 shares during the period. SkyOak Wealth LLC grew its position in shares of Neumora Therapeutics by 33.3% in the fourth quarter. SkyOak Wealth LLC now owns 20,000 shares of the company’s stock valued at $212,000 after purchasing an additional 5,000 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Neumora Therapeutics during the fourth quarter valued at about $61,000. Charles Schwab Investment Management Inc. lifted its position in Neumora Therapeutics by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 704,154 shares of the company’s stock worth $7,464,000 after acquiring an additional 5,899 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Neumora Therapeutics in the 4th quarter valued at approximately $64,000. 47.65% of the stock is 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.