RBC Capital Reiterates Outperform Rating on Neumora Therapeutics (NMRA)

RBC Capital analyst Brian Abrahams reiterated an Outperform rating and $29.00 price target on Neumora Therapeutics (NASDAQ: NMRA)

The analyst comments "With ph.III readouts from MDD KOR antagonists aticaprant (JNJ, covered by RBC analyst Shagun Singh) and navacaprant (NMRA) expected 4Q24, we have received increasing investor inquiries around readthroughs to NMRA from JNJ's recent ph.II aticaprant publication; we dug into the data and spoke with NMRA's mgmt. Overall, we believe JNJ's data validates that the KOR antagonist mechanism is active in depression, and while treatment effects were not on the high end of the range and some results do highlight intrinsic depression study variability/ unpredictability, we think the profile of navacaprant and the ph.III study design/ conduct should enable NMRA's agent to do even better. We continue to see navacaprant's ph.III as more likely than not to work, and believe its opportunity is underappreciated."

For an analyst ratings summary and ratings history on Neumora Therapeutics click here. For more ratings news on Neumora Therapeutics click here.

Shares of Neumora Therapeutics closed at $9.78 yesterday.

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