Needham & Company LLC Lowers Neumora Therapeutics (NASDAQ:NMRA) Price Target to $5.00

Neumora Therapeutics (NASDAQ:NMRA) had its price target reduced by research analysts at Needham & Company LLC from $8.00 to $5.00 in a report issued on Tuesday. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 446.75% from the stock’s previous close.

Other analysts have also issued reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Neumora Therapeutics in a research note on Tuesday, April 21st. Guggenheim reissued a “buy” rating and issued a $14.00 price target on shares of Neumora Therapeutics in a research note on Tuesday, March 31st. Finally, William Blair raised Neumora Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.14.

Neumora Therapeutics Stock Down 48.6%

NMRA opened at $0.91 on Tuesday. The business’s fifty day simple moving average is $1.95 and its 200 day simple moving average is $2.24. The company has a quick ratio of 5.09, a current ratio of 5.09 and a debt-to-equity ratio of 0.75. Neumora Therapeutics has a 52 week low of $0.72 and a 52 week high of $3.65. The firm has a market cap of $169.44 million, a P/E ratio of -0.69 and a beta of 2.74.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.02. As a group, equities research analysts anticipate that Neumora Therapeutics will post -0.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Neumora Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC acquired a new position in shares of Neumora Therapeutics in the 4th quarter valued at about $27,000. Virtu Financial LLC acquired a new position in shares of Neumora Therapeutics in the 3rd quarter valued at about $31,000. Legacy Private Trust Co. lifted its stake in shares of Neumora Therapeutics by 35.7% in the 4th quarter. Legacy Private Trust Co. now owns 19,000 shares of the company’s stock valued at $34,000 after purchasing an additional 5,000 shares in the last quarter. Fred Alger Management LLC acquired a new position in shares of Neumora Therapeutics in the 4th quarter valued at about $40,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Neumora Therapeutics in the 3rd quarter valued at about $44,000. 47.65% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Neumora Therapeutics

Here are the key news stories impacting Neumora Therapeutics this week:

• Negative Sentiment: Neumora said navacaprant failed to show statistically significant benefit in two Phase 3 depression trials, leading it to end development of the drug. Article Title
• Negative Sentiment: The company plans to lay off about 35% of staff as it restructures following the trial failures, signaling cost-cutting and reduced confidence in the lead program. Article Title
• Negative Sentiment: Several outlets reported the stock was on track for a severe drop after the Phase 3 failures, and a shareholder law firm announced an investigation into potential securities-law issues. Article Title
• Neutral Sentiment: Neumora said it still expects a cash runway into the third quarter of 2027 and will focus on other pipeline assets, including NMRA-511, NMRA-898 and NMRA-215. Article Title

Neumora Therapeutics Company Profile

Neumora Therapeutics, headquartered in Cambridge, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing precision therapies for disorders of the central nervous system. The company applies an integrated approach that combines advanced biological insights, single-cell genomics and machine learning to accelerate the discovery and development of novel treatments for neurological and psychiatric diseases.

Neumora’s product pipeline spans small molecules, biologics and gene-based modalities targeting areas of high unmet need such as neurodegenerative conditions, mood and anxiety disorders, neuropathic pain and movement disorders.