Neumora Therapeutics, Inc. (NASDAQ:NMRA) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Neumora Therapeutics has a “Moderate Buy” consensus rating from 10 analysts: six buys, one strong buy, one hold and two sells. The average 12-month price target is $6.57, well above the current price of $1.65.
• Analysts have recently reduced their price targets, with RBC and Needham lowering theirs to $5, while Mizuho cut its target to $4; ratings remained generally positive from those firms despite separate sell and strong-sell calls.
• Institutional investors own 47.65% of the company, with several hedge funds increasing their positions. Neumora reported a quarterly loss of $0.30 per share, beating estimates by $0.02, while analysts expect a full-year loss of $0.93 per share.

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the ten brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $6.5714.

NMRA has been the subject of a number of analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Neumora Therapeutics in a report on Friday, July 17th. Royal Bank Of Canada dropped their price objective on shares of Neumora Therapeutics from $7.00 to $5.00 and set an "outperform" rating on the stock in a research note on Monday, July 13th. Wall Street Zen lowered shares of Neumora Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, July 25th. Needham & Company LLC decreased their target price on shares of Neumora Therapeutics from $8.00 to $5.00 and set a "buy" rating for the company in a research note on Tuesday, June 16th. Finally, Mizuho lowered their price target on shares of Neumora Therapeutics from $6.00 to $4.00 and set an "outperform" rating on the stock in a report on Thursday, June 18th.

Neumora Therapeutics Price Performance

Shares of NMRA opened at $1.65 on Friday. The business's 50-day moving average is $1.64 and its two-hundred day moving average is $2.15. The company has a market capitalization of $305.71 million, a P/E ratio of -1.24 and a beta of 2.74. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.09 and a current ratio of 5.09. Neumora Therapeutics has a fifty-two week low of $0.83 and a fifty-two week high of $3.65.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.32) by $0.02. Research analysts predict that Neumora Therapeutics will post -0.93 earnings per share for the current year.

Institutional Investors Weigh In On Neumora Therapeutics

Hedge funds have recently modified their holdings of the company. Siren L.L.C. increased its stake in shares of Neumora Therapeutics by 35.1% in the 1st quarter. Siren L.L.C. now owns 8,497,822 shares of the company's stock valued at $16,571,000 after purchasing an additional 2,209,039 shares in the last quarter. Perceptive Advisors LLC purchased a new position in Neumora Therapeutics during the first quarter worth approximately $9,953,000. Millennium Management LLC grew its holdings in Neumora Therapeutics by 80.1% in the fourth quarter. Millennium Management LLC now owns 3,616,514 shares of the company's stock valued at $6,474,000 after purchasing an additional 1,608,266 shares during the period. Renaissance Technologies LLC grew its holdings in Neumora Therapeutics by 24.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,445,902 shares of the company's stock valued at $2,588,000 after purchasing an additional 281,926 shares during the period. Finally, Ikarian Capital LLC grew its holdings in Neumora Therapeutics by 10,128.9% in the fourth quarter. Ikarian Capital LLC now owns 1,278,408 shares of the company's stock valued at $2,288,000 after purchasing an additional 1,265,910 shares during the period. 47.65% of the stock is owned by hedge funds and other institutional investors.

About Neumora Therapeutics

Neumora Therapeutics, headquartered in Cambridge, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing precision therapies for disorders of the central nervous system. The company applies an integrated approach that combines advanced biological insights, single-cell genomics and machine learning to accelerate the discovery and development of novel treatments for neurological and psychiatric diseases.

Neumora's product pipeline spans small molecules, biologics and gene-based modalities targeting areas of high unmet need such as neurodegenerative conditions, mood and anxiety disorders, neuropathic pain and movement disorders.

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