Neumora Therapeutics (NASDAQ:NMRA) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research note released on Wednesday morning, Benzinga reports. The firm currently has a $23.00 target price on the stock.

Other research analysts also recently issued reports about the company. William Blair reaffirmed an outperform rating on shares of Neumora Therapeutics in a research note on Friday, April 12th. Mizuho initiated coverage on Neumora Therapeutics in a report on Monday, July 8th. They issued an outperform rating and a $20.00 target price on the stock. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $22.33.

Neumora Therapeutics Trading Up 0.2 %

NASDAQ:NMRA opened at $11.26 on Wednesday. Neumora Therapeutics has a twelve month low of $8.33 and a twelve month high of $21.00. The company has a fifty day moving average of $10.70 and a 200-day moving average of $12.61.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.37) EPS for the quarter, hitting analysts’ consensus estimates of ($0.37). On average, sell-side analysts predict that Neumora Therapeutics will post -1.46 EPS for the current year.

Institutional Trading of Neumora Therapeutics

Institutional investors have recently made changes to their positions in the company. Artal Group S.A. increased its position in shares of Neumora Therapeutics by 14.5% during the first quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock valued at $40,206,000 after acquiring an additional 371,350 shares during the last quarter. Avidity Partners Management LP raised its stake in shares of Neumora Therapeutics by 10.6% during the 4th quarter. Avidity Partners Management LP now owns 1,990,632 shares of the company’s stock worth $33,940,000 after purchasing an additional 190,632 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of Neumora Therapeutics during the 1st quarter worth $10,354,000. Baker BROS. Advisors LP purchased a new position in shares of Neumora Therapeutics in the 1st quarter worth about $8,715,000. Finally, Addis & Hill Inc bought a new position in Neumora Therapeutics during the first quarter valued at about $4,187,000. Institutional investors own 47.65% of the company’s stock.

Neumora Therapeutics Company Profile

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.