William Blair Reaffirms “Outperform” Rating for Neumora Therapeutics (NASDAQ:NMRA)

William Blair reissued their outperform rating on shares of Neumora Therapeutics (NASDAQ:NMRAFree Report) in a research note released on Friday, RTT News reports.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. raised their price objective on Neumora Therapeutics from $20.00 to $22.00 and gave the company an overweight rating in a research note on Monday, March 18th. Royal Bank of Canada reaffirmed an outperform rating and set a $31.00 target price on shares of Neumora Therapeutics in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $22.57.

Check Out Our Latest Research Report on NMRA

Neumora Therapeutics Stock Down 3.2 %

Shares of NASDAQ NMRA opened at $13.56 on Friday. The stock’s fifty day moving average price is $16.14 and its two-hundred day moving average price is $14.24. Neumora Therapeutics has a one year low of $9.35 and a one year high of $21.00.

Neumora Therapeutics (NASDAQ:NMRAGet Free Report) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.05. Equities research analysts expect that Neumora Therapeutics will post -1.48 EPS for the current year.

Hedge Funds Weigh In On Neumora Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC purchased a new stake in Neumora Therapeutics in the 3rd quarter worth approximately $79,360,000. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST bought a new position in Neumora Therapeutics during the 3rd quarter valued at approximately $46,692,000. Avidity Partners Management LP bought a new position in Neumora Therapeutics during the 3rd quarter valued at approximately $25,398,000. Johnson & Johnson bought a new position in Neumora Therapeutics during the 3rd quarter valued at approximately $12,870,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Neumora Therapeutics by 704.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 592,422 shares of the company’s stock worth $10,101,000 after purchasing an additional 518,822 shares in the last quarter. 47.65% of the stock is currently owned by institutional investors.

Neumora Therapeutics Company Profile

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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.

Further Reading

Analyst Recommendations for Neumora Therapeutics (NASDAQ:NMRA)

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