Analysts Set Neumora Therapeutics, Inc. (NASDAQ:NMRA) Target Price at $16.50

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $16.50.

A number of research firms recently commented on NMRA. Bank of America reduced their price target on Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. cut Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $15.00 in a report on Tuesday, November 5th. William Blair reiterated an “outperform” rating on shares of Neumora Therapeutics in a report on Wednesday, January 15th. Royal Bank of Canada cut Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $29.00 to $4.00 in a report on Thursday, January 2nd. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a report on Friday, February 14th.

Institutional Investors Weigh In On Neumora Therapeutics

A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Neumora Therapeutics by 2.6% in the third quarter. JPMorgan Chase & Co. now owns 64,421 shares of the company’s stock valued at $851,000 after buying an additional 1,629 shares in the last quarter. SkyOak Wealth LLC raised its position in shares of Neumora Therapeutics by 33.3% in the fourth quarter. SkyOak Wealth LLC now owns 20,000 shares of the company’s stock valued at $212,000 after buying an additional 5,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Neumora Therapeutics in the fourth quarter valued at approximately $61,000. Charles Schwab Investment Management Inc. raised its position in shares of Neumora Therapeutics by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 704,154 shares of the company’s stock valued at $7,464,000 after buying an additional 5,899 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Neumora Therapeutics in the fourth quarter valued at approximately $64,000. Institutional investors own 47.65% of the company’s stock.

Neumora Therapeutics Stock Performance

Neumora Therapeutics stock opened at $1.66 on Friday. Neumora Therapeutics has a 52 week low of $1.60 and a 52 week high of $21.00. The stock has a market capitalization of $268.19 million, a P/E ratio of -0.89 and a beta of 2.54. The stock has a 50-day simple moving average of $3.93 and a 200 day simple moving average of $9.16.

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.