Neumora Therapeutics (NASDAQ:NMRA) Upgraded to “Outperform” at William Blair

William Blair upgraded shares of Neumora Therapeutics (NASDAQ:NMRA) from a market perform rating to an outperform rating in a research note released on Tuesday, Marketbeat reports.

Several other equities analysts also recently weighed in on NMRA. Needham & Company LLC raised their price target on Neumora Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Guggenheim upgraded shares of Neumora Therapeutics from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Monday, October 27th. Royal Bank Of Canada raised shares of Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $4.00 to $7.00 in a report on Monday, December 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neumora Therapeutics in a report on Thursday, January 22nd. Finally, Leerink Partners initiated coverage on shares of Neumora Therapeutics in a research report on Monday, January 12th. They set an “outperform” rating and a $8.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Neumora Therapeutics has a consensus rating of “Hold” and an average target price of $8.13.

Neumora Therapeutics Trading Up 10.6%

Shares of NMRA opened at $3.54 on Tuesday. Neumora Therapeutics has a 1-year low of $0.61 and a 1-year high of $3.64. The company has a current ratio of 6.85, a quick ratio of 6.85 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $2.12 and its 200-day moving average price is $2.04. The firm has a market capitalization of $591.50 million, a price-to-earnings ratio of -2.41 and a beta of 3.20.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Legacy Private Trust Co. purchased a new position in shares of Neumora Therapeutics during the 3rd quarter valued at $25,000. Virtu Financial LLC bought a new stake in Neumora Therapeutics during the third quarter valued at about $31,000. Fred Alger Management LLC purchased a new position in shares of Neumora Therapeutics in the fourth quarter valued at about $40,000. Brookstone Capital Management bought a new position in shares of Neumora Therapeutics in the third quarter worth about $42,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Neumora Therapeutics during the third quarter worth about $44,000. 47.65% of the stock is owned by hedge funds and other institutional investors.

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.