Neumora Therapeutics (NASDAQ:NMRA) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $23.00 price target on the stock.

Several other analysts have also recently commented on NMRA. Mizuho assumed coverage on shares of Neumora Therapeutics in a research note on Monday, July 8th. They issued an outperform rating and a $20.00 target price for the company. William Blair reissued an outperform rating on shares of Neumora Therapeutics in a research note on Friday, April 12th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Neumora Therapeutics has an average rating of Moderate Buy and an average target price of $22.33.

Neumora Therapeutics Stock Performance

NMRA stock traded up $0.02 during midday trading on Wednesday, reaching $11.26. The company’s stock had a trading volume of 305,677 shares, compared to its average volume of 625,426. The stock has a fifty day simple moving average of $10.70 and a two-hundred day simple moving average of $12.61. Neumora Therapeutics has a 1 year low of $8.33 and a 1 year high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly 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). Analysts predict that Neumora Therapeutics will post -1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Amalgamated Bank bought a new position 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 in the fourth quarter worth about $44,000. Strs Ohio acquired a new position in shares of Neumora Therapeutics in the 4th quarter valued at about $54,000. SG Americas Securities LLC purchased a new position in Neumora Therapeutics during the fourth quarter worth approximately $108,000. Finally, New York State Common Retirement Fund purchased a new stake in Neumora Therapeutics during the 4th quarter worth approximately $118,000. Hedge funds and other 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.