Neumora Therapeutics (NASDAQ:NMRA) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a $23.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. William Blair reiterated an outperform rating on shares of Neumora Therapeutics in a report on Friday, April 12th. Mizuho assumed coverage on Neumora Therapeutics in a report on Monday, July 8th. They set an outperform rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $22.33.

Neumora Therapeutics Stock Performance

Shares of NMRA opened at $11.26 on Wednesday. The company’s fifty day moving average is $10.70 and its 200 day moving average is $12.61. Neumora Therapeutics has a fifty-two week low of $8.33 and a fifty-two week high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last announced its earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.37). As a group, sell-side analysts anticipate that Neumora Therapeutics will post -1.46 earnings per share for the current year.

Institutional Trading of Neumora Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank bought a new stake in shares of Neumora Therapeutics in the 4th quarter valued at about $29,000. Tower Research Capital LLC TRC acquired a new position in shares of Neumora Therapeutics during the fourth quarter worth $44,000. Strs Ohio purchased a new stake in shares of Neumora Therapeutics during the 4th quarter valued at $54,000. SG Americas Securities LLC acquired a new stake in shares of Neumora Therapeutics in the 4th quarter worth $108,000. Finally, New York State Common Retirement Fund purchased a new position in Neumora Therapeutics during the 4th quarter worth $118,000. Institutional investors own 47.65% of the company’s stock.

About Neumora Therapeutics

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.