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: "We believe Neumora hit an important milestone with the company selecting a new lead M4 PAM candidate, NMRA-861, for the treatment of schizophrenia and other neuropsychiatric disorders. The company announced the initiation of a Phase 1 single-ascending dose/multiple-ascending dose (SAD/MAD) in healthy adult participants and adults with stable schizophrenia, and the data is expected in 1Q26. Recall that the Phase 1 study of the company's first M4 candidate, NMRA-266, had been held due to showing convulsions in rabbits. Management noted -861 and -266 are structurally distinct, and in preclinical studies, convulsions were not observed with NMRA-861 in rabbits, dogs or rats. Management noted that '861 is more potent than '266. Neumora retains conviction that a PAM is the right approach since targeting the allosteric site specifically allows for greater selectivity for M4 over other muscarinic sub-types than the orthosteric site. The company noted that agonists targeting the orthosteric site may only display "partial" agonism which could contribute to variable clinical responses. The company believes PAMs allow for more precise potentiation of M4, maintaining the spatial and temporal signaling dynamics of acetylcholine, a key neurotransmitter. Notably, the company also has a second M4 PAM close to IND-filing. Management noted that it believes this is potentially a "two molecule" franchise and so the second molecule should not be viewed only as a backup and could be advanced in different indications. Reiterate Buy rating and $18 PT."

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 $1.02 yesterday.

You May Also Be Interested In

• Stripe, Advent In Talks To Buy Paypal - WSJ
• Phillips 66, Marathon Merger Talks Collapsed - Semafor
• Mosaic sets pricing for tender offers on up to $1.4B in debt