Neumora Therapeutics, Inc., the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Douglas Tsao from H.C. Wainwright maintained a Buy rating on the stock and has a $18.00 price target.
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Douglas Tsao has given his Buy rating due to a combination of factors that highlight Neumora Therapeutics, Inc.’s potential for growth and innovation. A key factor is the upcoming Phase 1b study results for NMRA-511, which targets agitation in Alzheimer’s Disease, a condition affecting a significant portion of patients. The study’s focus on a critical unmet need, combined with NMRA-511’s promising safety profile and specificity for the brain, positions it as a potential game-changer in the treatment landscape.
Additionally, Neumora’s pipeline is rich with catalysts, including the initiation of NMRA-215’s Phase 1 study and other ongoing studies for NMRA-861 and NMRA-898. The company’s strong financial position, bolstered by additional funding, supports these developments. Tsao’s valuation and price target are based on projected future revenues, adjusted for the probability of success, indicating confidence in Neumora’s strategic direction and potential market impact.
According to TipRanks, Tsao is a 5-star analyst with an average return of 22.0% and a 53.85% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Protagonist Therapeutics, Hansa Biopharma AB, and Cabaletta Bio.
In another report released today, Needham also reiterated a Buy rating on the stock with a $8.00 price target.