Royal Bank of Canada Reaffirms “Sector Perform” Rating for Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “sector perform” rating restated by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $4.00 price target on the stock. Royal Bank of Canada’s target price indicates a potential upside of 179.72% from the stock’s previous close.

Several other brokerages have also issued reports on NMRA. HC Wainwright lowered their price target on Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of Neumora Therapeutics in a research note on Tuesday. Bank of America lowered their price objective on Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, William Blair reiterated an “outperform” rating on shares of Neumora Therapeutics in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.50.

Neumora Therapeutics Stock Performance

Neumora Therapeutics stock opened at $1.43 on Tuesday. The business’s 50-day simple moving average is $2.83 and its 200-day simple moving average is $8.76. The firm has a market capitalization of $231.03 million, a PE ratio of -0.76 and a beta of 2.50. Neumora Therapeutics has a 52 week low of $1.35 and a 52 week high of $21.00.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Neumora Therapeutics during the 4th quarter worth $61,000. PNC Financial Services Group Inc. bought a new stake in shares of Neumora Therapeutics during the 4th quarter valued at $64,000. Quantbot Technologies LP bought a new stake in shares of Neumora Therapeutics during the 4th quarter valued at $92,000. PEAK6 LLC bought a new stake in shares of Neumora Therapeutics during the 4th quarter valued at $117,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Neumora Therapeutics during the 4th quarter valued at $135,000. Institutional investors and hedge funds own 47.65% of the company’s stock.

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.