Equities Analysts Set Expectations for NMRA FY2024 Earnings

Neumora Therapeutics, Inc. (NASDAQ:NMRA) – Equities researchers at William Blair dropped their FY2024 earnings per share (EPS) estimates for Neumora Therapeutics in a research report issued on Tuesday, November 12th. William Blair analyst M. Minter now expects that the company will post earnings of ($1.63) per share for the year, down from their previous forecast of ($1.48). The consensus estimate for Neumora Therapeutics’ current full-year earnings is ($1.48) per share. William Blair also issued estimates for Neumora Therapeutics’ Q4 2024 earnings at ($0.46) EPS, Q1 2025 earnings at ($0.47) EPS, Q2 2025 earnings at ($0.48) EPS, Q3 2025 earnings at ($0.49) EPS, Q4 2025 earnings at ($0.50) EPS and FY2025 earnings at ($1.94) EPS.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $15.00 in a report on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Neumora Therapeutics in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a report on Wednesday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $29.00 price objective on shares of Neumora Therapeutics in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Neumora Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Neumora Therapeutics Price Performance

NMRA stock opened at $10.84 on Friday. The firm has a 50 day simple moving average of $13.09 and a two-hundred day simple moving average of $11.41. The stock has a market cap of $1.75 billion, a PE ratio of -5.84 and a beta of 3.92. Neumora Therapeutics has a one year low of $8.33 and a one year high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.07). During the same period in the prior year, the company posted ($1.14) EPS.

Hedge Funds Weigh In On Neumora Therapeutics

Several hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its holdings in Neumora Therapeutics by 352.9% in the third quarter. Barclays PLC now owns 129,210 shares of the company’s stock valued at $1,708,000 after acquiring an additional 100,678 shares in the last quarter. Wexford Capital LP boosted its stake in shares of Neumora Therapeutics by 90.1% during the 3rd quarter. Wexford Capital LP now owns 217,879 shares of the company’s stock valued at $2,878,000 after purchasing an additional 103,285 shares in the last quarter. State Street Corp increased its position in shares of Neumora Therapeutics by 65.3% during the third quarter. State Street Corp now owns 1,790,707 shares of the company’s stock valued at $23,655,000 after buying an additional 707,409 shares during the period. Point72 Asset Management L.P. bought a new position in Neumora Therapeutics in the third quarter worth about $1,097,000. Finally, Cerity Partners LLC purchased a new stake in Neumora Therapeutics in the third quarter worth about $3,209,000. 47.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Joshua Pinto sold 31,642 shares of the company’s 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 of the company’s stock, valued at approximately $1,821,871.24. This represents a 16.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $17.03, for a total value of $239,254.47. Following the completion of the sale, the director now directly owns 20,100 shares in the company, valued at $342,303. The trade was a 41.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,538 shares of company stock valued at $1,390,513. Insiders own 26.40% 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.