BofA double downgraded Neumora Therapeutics (NMRA) to Underperform from Buy with a price target of $1, down from $7. The firm is taking a more conservative view on the company’s lead navacaprant program in major depressive disorder following the negative Phase 3 KOASTAL-1 readout. Patient selection is a challenge area and despite Neumora’s best efforts to mitigate risk, the changes are unlikely to increase the chances or success, the analyst tells investors in a research note.
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Read More on NMRA:
- Neumora Therapeutics downgraded to Market Perform from Outperform at William Blair
- Johnson & Johnson discontinues depression program for aticaprant
- Douglas Tsao Recommends ‘Buy’ for Neumora Therapeutics Due to Navacaprant’s Market Potential and Differentiated Pharmacology
- Neumora Therapeutics downgraded to Neutral from Buy at Guggenheim
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