Needham analyst Ami Fadia maintained a Buy rating on Neumora Therapeutics, Inc. today and set a price target of $8.00.
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Ami Fadia has given his Buy rating due to a combination of factors tied to NMRA-511’s emerging clinical profile in Alzheimer’s disease agitation. The additional Phase 1b readouts on NPI-AA and CGI-S reinforce earlier CMAI results and indicate that, particularly in patients with elevated anxiety, NMRA-511 delivers efficacy that compares very favorably with existing options despite less baseline enrichment.
Moreover, she highlights that the drug’s benefit on NPI-AA looks competitive versus Rexulti even though Neumora’s trial started from lower agitation scores and had arm imbalances that likely understate the effect. Taken together with CGI-S outcomes that align with Rexulti in the overall group but are notably stronger in the elevated-anxiety subset, and a potentially superior safety and tolerability profile versus both Rexulti and Auvelity, Fadia sees a differentiated asset that supports a positive risk-reward and underpins her Buy rating on Neumora.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $18.00 price target.