Neumora Therapeutics (NASDAQ:NMRA) Given New $7.00 Price Target at HC Wainwright

Neumora Therapeutics (NASDAQ:NMRA) had its target price reduced by HC Wainwright from $18.00 to $7.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has a “buy” rating on the stock.

Several other research firms have also recently commented on NMRA. William Blair upgraded Neumora Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 17th. Guggenheim restated a “buy” rating and set a $14.00 price target on shares of Neumora Therapeutics in a research note on Tuesday, March 31st. Needham & Company LLC cut their price target on Neumora Therapeutics from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Neumora Therapeutics in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.14.

Neumora Therapeutics Price Performance

NMRA stock opened at $0.91 on Tuesday. The company has a market capitalization of $169.44 million, a P/E ratio of -0.69 and a beta of 2.74. Neumora Therapeutics has a twelve month low of $0.72 and a twelve month high of $3.65. The business has a 50 day simple moving average of $1.95 and a 200-day simple moving average of $2.24. The company has a current ratio of 5.09, a quick ratio of 5.09 and a debt-to-equity ratio of 0.75.

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

Institutional Investors Weigh In On Neumora Therapeutics

Several large investors have recently modified their holdings of NMRA. Perceptive Advisors LLC purchased a new stake in shares of Neumora Therapeutics during the first quarter worth approximately $9,953,000. Siren L.L.C. raised its position in Neumora Therapeutics by 35.1% in the first quarter. Siren L.L.C. now owns 8,497,822 shares of the company’s stock worth $16,571,000 after acquiring an additional 2,209,039 shares in the last quarter. Millennium Management LLC raised its position in Neumora Therapeutics by 80.1% in the fourth quarter. Millennium Management LLC now owns 3,616,514 shares of the company’s stock worth $6,474,000 after acquiring an additional 1,608,266 shares in the last quarter. Ikarian Capital LLC raised its position in Neumora Therapeutics by 10,128.9% in the fourth quarter. Ikarian Capital LLC now owns 1,278,408 shares of the company’s stock worth $2,288,000 after acquiring an additional 1,265,910 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Neumora Therapeutics in the third quarter worth $1,512,000. Hedge funds and other institutional investors own 47.65% of the company’s stock.

Key Neumora Therapeutics News

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.