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

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

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

Neumora Therapeutics Stock Performance

NASDAQ NMRA opened at $0.91 on Tuesday. The firm 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 1-year low of $0.72 and a 1-year high of $3.65. The company has a debt-to-equity ratio of 0.75, a current ratio of 5.09 and a quick ratio of 5.09. The business’s 50-day simple moving average is $1.95 and its 200-day simple moving average is $2.24.

Neumora Therapeutics (NASDAQ:NMRA) last announced its earnings results on Thursday, May 7th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.02. Equities analysts predict that Neumora Therapeutics will post -0.95 EPS for the current year.

Institutional Investors Weigh In On Neumora Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of NMRA. Invesco Ltd. increased its holdings in Neumora Therapeutics by 151.1% during the 1st quarter. Invesco Ltd. now owns 123,655 shares of the company’s stock worth $124,000 after purchasing an additional 74,406 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Neumora Therapeutics during the 1st quarter worth approximately $463,000. Russell Investments Group Ltd. increased its holdings in Neumora Therapeutics by 2,898.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 73,812 shares of the company’s stock worth $56,000 after purchasing an additional 71,350 shares during the last quarter. Marshall Wace LLP purchased a new stake in Neumora Therapeutics during the 2nd quarter worth approximately $183,000. Finally, Federated Hermes Inc. increased its holdings in Neumora Therapeutics by 10.4% during the 2nd quarter. Federated Hermes Inc. now owns 314,119 shares of the company’s stock worth $230,000 after purchasing an additional 29,543 shares during the last quarter. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

Neumora Therapeutics News Roundup

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

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.