Neumora Therapeutics (NASDAQ:NMRA) Rating Lowered to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen lowered Neumora Therapeutics from a “sell” to a “strong sell,” adding to a mixed analyst picture around the stock.
• Despite the downgrade, the broader consensus remains Moderate Buy, with 1 Strong Buy, 6 Buy, 1 Hold, and 2 Sell ratings; the average price target is $6.57.
• Neumora shares were trading around $1.49, well below the Street’s average target, while the company reported a smaller-than-expected quarterly loss and remains a clinical-stage CNS drug developer.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report released on Saturday.

Several other analysts also recently commented on NMRA. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Neumora Therapeutics in a research note on Friday, July 17th. Needham & Company LLC dropped their target price on Neumora Therapeutics from $8.00 to $5.00 and set a "buy" rating on the stock in a report on Tuesday, June 16th. Mizuho decreased their price target on Neumora Therapeutics from $6.00 to $4.00 and set an "outperform" rating for the company in a report on Thursday, June 18th. 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. Finally, Guggenheim restated a "buy" rating and issued a $14.00 target price on shares of Neumora Therapeutics in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $6.57.

Neumora Therapeutics Trading Down 4.5%

Shares of Neumora Therapeutics stock opened at $1.49 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.09 and a current ratio of 5.09. The company has a market capitalization of $276.07 million, a P/E ratio of -1.12 and a beta of 2.74. Neumora Therapeutics has a 1 year low of $0.83 and a 1 year high of $3.65. The company's fifty day moving average is $1.65 and its two-hundred day moving average is $2.16.

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

Hedge Funds Weigh In On Neumora Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC acquired a new stake in shares of Neumora Therapeutics in the fourth quarter valued at about $27,000. Virtu Financial LLC purchased a new position in Neumora Therapeutics in the third quarter valued at about $31,000. Fred Alger Management LLC acquired a new stake in shares of Neumora Therapeutics during the 4th quarter valued at approximately $40,000. Canada Pension Plan Investment Board acquired a new stake in shares of Neumora Therapeutics during the 2nd quarter valued at approximately $41,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Neumora Therapeutics during the 3rd quarter worth approximately $44,000. 47.65% of the stock is owned by institutional investors and hedge funds.

Neumora Therapeutics Company Profile

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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