Needham Lifts PT on Neumora Therapeutics (NMRA) to $8 From $6, Keeps a Buy Rating

Neumora Therapeutics, Inc. (NASDAQ:NMRA) is one of the best stocks under $5 with highest upside potential. On October 28, Needham lifted its price target on Neumora Therapeutics, Inc. (NASDAQ:NMRA) to $8 from $6 while keeping a Buy rating on the stock. The firm told investors that it is more optimistic about the company’s outlook after its R&D Investor Event that exhibited its broad pipeline.

5 Fastest Growing Biotech Companies in the US

Similarly, Guggenheim upgraded Neumora Therapeutics, Inc. (NASDAQ:NMRA) to Buy from Neutral on October 27, setting a $14 price target on the shares. The firm told investors that it released the rating update after the “compelling” preclinical obesity data reported by Neumora Therapeutics, Inc. (NASDAQ:NMRA). Guggenheim added that it believes the company’s NLRP3i program in obesity and related disorders to be “a clear driver to value creation.”

Neumora Therapeutics, Inc. (NASDAQ:NMRA) is a clinical-stage biotechnology company that integrates neuroscience and data science to offer a precision medicine approach for brain diseases. Its focus is on advancing medicines for therapeutically relevant targets implicated in CNS diseases.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.