Neumora Therapeutics

NMRA · NASDAQ

$0.465−$0.005 (−1.06%)TodayMarket closed · Oct 20, 7:54 PM ET

Prev close $0.47

NMRA analyst rating

BuyConsensus of 8 analysts over the last 12 months. 88% rate it a buy.

Strong buy0
Buy7
Hold1
Underperform0
Sell0

12-month price target · 9 analysts

Average $6.27 (+1247.5% upside)

Low: $3.03
Now: $0.465
High: $14.70

Upgrades and downgrades

The latest rating actions, newest first

NMRA analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
RBC Capital	Jul 13, 2026	Maintains	Outperform	$7.00 → $5.00	44%
Mizuho	Jun 18, 2026	Maintains	Outperform	$6.00 → $4.00	54%
Needham	Jun 16, 2026	Maintains	Buy	$8.00 → $5.00	47%
HC Wainwright & Co.	Jun 16, 2026	Maintains	Buy	$18.00 → $7.00	50%
Guggenheim	Mar 31, 2026	Maintains	Buy	$14.00	49%
Needham	Mar 31, 2026	Maintains	Buy	$8.00	47%
William Blair	Feb 17, 2026	Upgrade	Market Perform → Outperform	—	55%
Leerink Partners	Jan 12, 2026	Initiates	Outperform	$8.00	55%
RBC Capital	Dec 1, 2025	Upgrade	Sector Perform → Outperform	$4.00 → $7.00	44%
Stifel	Nov 17, 2025	Maintains	Hold	$2.00 → $3.00	41%

The case for and against

Updated Oct 14, 2026

Bull case

Neumora Therapeutics is supported by a broad neuroscience pipeline that spans seven clinical and preclinical programs, giving it multiple shots at value creation beyond any single asset and exposure to underserved neuropsychiatric and neurodegenerative diseases. Even with the setback on navacaprant, the company’s other programs retain optionality, with key catalysts including NMRA-511 MAD data in 4Q26, NMRA-898 Ph 1 data in 2H26, and NMRA-215’s clinical entry in 2026, while the 35% workforce reduction should drive $10M in annualized savings with a 2027 run-rate. Its lead asset was previously viewed as having meaningful US sales potential of $750M in 2028 and $3B at peak, underscoring the size of the opportunity if the pipeline can continue to de-risk and advance.

Bear case

Neumora Therapeutics is viewed negatively because navacaprant failed to show meaningful efficacy in KOASTAL-2 and KOASTAL-3, with week 6 MADRS changes essentially matching placebo at -12.2 versus -12.0 and -12.1 versus -12.1, while the SHAPs endpoint also showed no clear separation. That weak clinical readout undermines confidence in the KORA mechanism and suggests the program may not be central to treating anhedonia, reducing the likelihood that Neumora’s lead asset can drive value creation. The broader fundamental profile remains risky because no products are FDA-approved, the company has never launched a product, is not expected to generate revenue for a number of years, and may need additional capital, creating dilution risk.

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