Neumora Therapeutics downgraded to Underweight from Neutral at JPMorgan

JPMorgan downgraded Neumora Therapeutics (NMRA) to Underweight from Neutral without a price target The company’s Phase 3 KOASTAL-1 trial evaluating navacaprant as a monotherapy treatment in major depressive disorder failed to hit its primary endpoint or key secondary endpoint earlier this year, the analyst tells investors in a research note. The firm believes Neumora shares will continue to underperform peers into the Phase 3 KOASTAL-2 and KOASTAL-3 trial readouts.