H.C. Wainwright Reiterates Buy Rating on Neumora Therapeutics (NMRA)

H.C. Wainwright analyst Douglas Tsao reiterated a Buy rating and $18.00 price target on Neumora Therapeutics (NASDAQ: NMRA).

The analyst commented: "Given the differentiated pharmacology of Neumora's navacaprant, we don't read too much into Johnson & Johnson's (JNJ; not rated) decision to discontinue development of aticaprant, its own kappa opioid receptor antagonist (KORA), which was being developed as an adjunctive therapy for major depressive disorder (MDD). Admittedly, we were surprised by the news since it appeared Johnson & Johnson was moving the drug through development aggressively. Even last year, Johnson & Johnson started the VENTURA-5 and VENTURA-7 studies, suggesting that the earlier VENTURA trials succeeded. Moreover, earlier this year, Johnson & Johnson updated R&D pipeline to list aticaprant as a planned NDA filing for 2025. The positive signals given by Johnson & Johnson regarding aticaprant helped support investor sentiment regarding the KORA mechanism following navacaprant's negative readout in the KOASTAL-1 study, so this news will likely hurt investor confidence in the near-term, in our view."

For an analyst ratings summary and ratings history on Neumora Therapeutics click here. For more ratings news on Neumora Therapeutics click here.

Shares of Neumora Therapeutics closed at $1.49 yesterday.

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