Neumora Therapeutics initiated with neutral view at Deutsche Bank, here’s why

Deutsche Bank analyst Neena Bitritto-Garg initiated coverage of Neumora Therapeutics with a Hold rating and $13 price target. The analyst sees a balanced risk/reward into the topline Phase 3 data in second half of 2024. Raising the probability of success for navacaprant in major depressive disorder to 90% adds $10 per share to the model, while removing it on failure removes $10 per share, the analyst tells investors in a research note.