Leerink Partnrs Upgrades Neumora Therapeutics (NASDAQ:NMRA) to Strong-Buy

Neumora Therapeutics (NASDAQ:NMRA) was upgraded by research analysts at Leerink Partnrs to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts also recently commented on NMRA. Guggenheim raised Neumora Therapeutics from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a report on Monday, October 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Neumora Therapeutics in a report on Wednesday, October 8th. Stifel Nicolaus upped their price objective on shares of Neumora Therapeutics from $2.00 to $3.00 and gave the company a “hold” rating in a research note on Monday, November 17th. Royal Bank Of Canada upgraded shares of Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $4.00 to $7.00 in a report on Monday, December 1st. Finally, Leerink Partners started coverage on shares of Neumora Therapeutics in a report on Monday. They set an “outperform” rating and a $8.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Neumora Therapeutics has a consensus rating of “Hold” and a consensus target price of $8.13.

Neumora Therapeutics Stock Performance

Shares of NASDAQ:NMRA opened at $2.22 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.85 and a current ratio of 6.85. The stock has a market capitalization of $370.94 million, a price-to-earnings ratio of -1.51 and a beta of 3.22. Neumora Therapeutics has a 1-year low of $0.61 and a 1-year high of $3.25. The company has a 50 day moving average price of $2.19 and a 200 day moving average price of $1.89.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). On average, research analysts anticipate that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Buying and Selling at Neumora Therapeutics

In other news, insider Daljit Singh Aurora sold 114,703 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $2.68, for a total transaction of $307,404.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kristina Burow purchased 1,915,700 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was bought at an average cost of $2.61 per share, for a total transaction of $4,999,977.00. Following the completion of the purchase, the director directly owned 6,046,907 shares of the company’s stock, valued at $15,782,427.27. The trade was a 46.37% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 26.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Neumora Therapeutics during the 3rd quarter worth about $1,512,000. Millennium Management LLC grew its stake in shares of Neumora Therapeutics by 63.1% in the 3rd quarter. Millennium Management LLC now owns 2,008,248 shares of the company’s stock valued at $3,655,000 after buying an additional 776,856 shares in the last quarter. AQR Capital Management LLC acquired a new position in Neumora Therapeutics in the first quarter worth approximately $463,000. AlphaCore Capital LLC acquired a new position in Neumora Therapeutics in the second quarter worth approximately $248,000. Finally, Marshall Wace LLP bought a new position in Neumora Therapeutics during the second quarter valued at approximately $183,000. Hedge funds and other institutional investors own 47.65% of the company’s stock.

About Neumora Therapeutics

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.