Neumora Therapeutics’ (NMRA) “Buy” Rating Reaffirmed at Needham & Company LLC

Neumora Therapeutics (NASDAQ:NMRAGet Free Report)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They currently have a $23.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 97.09% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. Mizuho started coverage on shares of Neumora Therapeutics in a research note on Monday, July 8th. They set an “outperform” rating and a $20.00 price target for the company. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Neumora Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $22.11.

Get Our Latest Stock Analysis on NMRA

Neumora Therapeutics Price Performance

NASDAQ:NMRA traded up $0.27 on Thursday, reaching $11.67. The stock had a trading volume of 419,800 shares, compared to its average volume of 593,957. Neumora Therapeutics has a 1-year low of $8.33 and a 1-year high of $21.00. The stock has a fifty day moving average price of $11.51 and a 200-day moving average price of $11.68.

Neumora Therapeutics (NASDAQ:NMRAGet Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.37). On average, equities analysts anticipate that Neumora Therapeutics will post -1.51 EPS for the current fiscal year.

Insider Activity

In other Neumora Therapeutics news, CFO Joshua Pinto sold 31,642 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $11.78, for a total value of $372,742.76. Following the completion of the transaction, the chief financial officer now directly owns 154,658 shares in the company, valued at $1,821,871.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 26.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank purchased a new position in Neumora Therapeutics in the 4th quarter worth about $29,000. New York State Common Retirement Fund purchased a new position in Neumora Therapeutics in the 4th quarter worth about $118,000. Quarry LP purchased a new position in Neumora Therapeutics in the 2nd quarter worth about $98,000. SkyOak Wealth LLC purchased a new position in Neumora Therapeutics in the 2nd quarter worth about $147,000. Finally, Principal Financial Group Inc. purchased a new position in Neumora Therapeutics in the 2nd quarter worth about $166,000. Hedge funds and other institutional investors own 47.65% of the company’s stock.

About Neumora Therapeutics

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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.

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Analyst Recommendations for Neumora Therapeutics (NASDAQ:NMRA)

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