William Blair Reaffirms “Outperform” Rating for Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “outperform” rating reaffirmed by stock analysts at William Blair in a research report issued to clients and investors on Wednesday,RTT News reports.

Other analysts have also recently issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a research note on Friday, January 3rd. Royal Bank of Canada cut Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $29.00 to $4.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. Bank of America reduced their price target on Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a research report on Thursday, January 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Neumora Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Neumora Therapeutics Stock Down 1.4 %

NASDAQ:NMRA opened at $2.17 on Wednesday. Neumora Therapeutics has a twelve month low of $1.83 and a twelve month high of $21.00. The stock’s 50-day simple moving average is $8.95 and its 200 day simple moving average is $11.11. The firm has a market capitalization of $350.59 million, a PE ratio of -1.16 and a beta of 2.71.

Neumora Therapeutics (NASDAQ:NMRA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same period in the previous year, the company earned ($1.14) EPS. On average, analysts anticipate that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Neumora Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Neumora Therapeutics by 54.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after purchasing an additional 694,385 shares during the last quarter. Barclays PLC increased its position in shares of Neumora Therapeutics by 352.9% during the third quarter. Barclays PLC now owns 129,210 shares of the company’s stock worth $1,708,000 after buying an additional 100,678 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Neumora Therapeutics by 139.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock worth $9,224,000 after buying an additional 406,891 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Neumora Therapeutics in the third quarter valued at $1,097,000. Finally, Callan Capital LLC boosted its position in Neumora Therapeutics by 222.6% during the second 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 last quarter. 47.65% of the stock is owned by institutional investors and hedge funds.

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.