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Brokers initiate coverage on Neumora Therapeutics with a Buy rating
Summary
Biopharmaceutical firm Neumora Therapeutics (NASDAQ: NMRA) received a ‘buy’ rating from brokers shortly after its recent listing on the stock market. The stock debuted on the market last month and its price has declined by 28.5% since then.
Neumora develops therapeutic treatments for brain diseases, neuropsychiatric disorders and neurodegenerative diseases. Brokers are positive on Neumora’s lead product Navacaprant, its new, daily administered oral medication that acts as an antagonist for the kappa opioid receptor.
Refinitiv data suggests that the consensus mean price target on NMRA is US$22.20, an upside potential of a whopping 120% over Wednesday’s closing price.
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