Analysts Set Neumora Therapeutics, Inc. (NASDAQ:NMRA) Target Price at $22.57

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) have been given an average rating of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $22.57.

A number of brokerages recently issued reports on NMRA. William Blair reiterated an “outperform” rating on shares of Neumora Therapeutics in a research note on Friday, April 12th. JPMorgan Chase & Co. boosted their target price on shares of Neumora Therapeutics from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Neumora Therapeutics in a research note on Thursday, March 28th.

Hedge Funds Weigh In On Neumora Therapeutics

Several hedge funds have recently made changes to their positions in the company. Amalgamated Bank acquired a new stake in shares of Neumora Therapeutics in the 4th quarter valued at about $29,000. Tower Research Capital LLC TRC purchased a new position in shares of Neumora Therapeutics during the fourth quarter worth approximately $44,000. Strs Ohio acquired a new position in shares of Neumora Therapeutics in the 4th quarter valued at $54,000. SG Americas Securities LLC purchased a new stake in Neumora Therapeutics in the 4th quarter valued at $108,000. Finally, New York State Common Retirement Fund acquired a new stake in Neumora Therapeutics during the 4th quarter worth $118,000. Hedge funds and other institutional investors own 47.65% of the company’s stock.

Neumora Therapeutics Stock Down 2.5 %

Neumora Therapeutics stock opened at $9.15 on Friday. Neumora Therapeutics has a twelve month low of $8.82 and a twelve month high of $21.00. The stock’s fifty day simple moving average is $9.97 and its 200-day simple moving average is $13.67.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, hitting the consensus estimate of ($0.34). On average, analysts predict that Neumora Therapeutics will post -1.46 earnings per share for the current fiscal year.

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.