HC Wainwright Reaffirms Buy Rating for Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $30.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 156.63% from the company’s previous close. HC Wainwright also issued estimates for Neumora Therapeutics’ Q4 2024 earnings at ($0.46) EPS, FY2024 earnings at ($1.63) EPS, FY2025 earnings at ($1.76) EPS, FY2026 earnings at ($1.77) EPS, FY2027 earnings at ($1.37) EPS and FY2028 earnings at $0.03 EPS.

A number of other equities research analysts have also issued reports on NMRA. Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Neumora Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Neumora Therapeutics Stock Performance

Shares of NMRA opened at $11.69 on Wednesday. The firm has a market capitalization of $1.89 billion, a PE ratio of -6.25 and a beta of 3.92. The stock has a 50 day simple moving average of $13.07 and a 200 day simple moving average of $11.41. Neumora Therapeutics has a 52-week low of $8.33 and a 52-week high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.07). During the same period in the prior year, the company earned ($1.14) EPS. Equities research analysts predict that Neumora Therapeutics will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling at Neumora Therapeutics

In related news, insider Robert A. Lenz sold 30,788 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $11.81, for a total value of $363,606.28. Following the transaction, the insider now owns 339,205 shares in the company, valued at approximately $4,006,011.05. This represents a 8.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joshua Pinto sold 31,642 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $11.78, for a total transaction of $372,742.76. Following the completion of the transaction, the chief financial officer now directly owns 154,658 shares in the company, valued at approximately $1,821,871.24. This represents a 16.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,538 shares of company stock worth $1,390,513 over the last 90 days. Company insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD acquired a new position in Neumora Therapeutics in the 1st quarter valued at $10,354,000. Baker BROS. Advisors LP acquired a new position in Neumora Therapeutics in the 1st quarter valued at $8,715,000. Callan Capital LLC lifted its position in shares of Neumora Therapeutics by 222.6% during the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after acquiring an additional 456,207 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Neumora Therapeutics by 139.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock worth $9,224,000 after purchasing an additional 406,891 shares in the last quarter. Finally, Artal Group S.A. increased its position in shares of Neumora Therapeutics by 14.5% in the first quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock worth $40,206,000 after purchasing an additional 371,350 shares during the period. Institutional investors and hedge funds 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.