Neumora Therapeutics price target raised to $20 from $18 at BofA

BofA raised the firm’s price target on Neumora Therapeutics (NMRA) to $20 from $18 and keeps a Buy rating on the shares. Neumora has built a broad pipeline of clinical and preclinical assets with novel mechanisms of action, including seven molecules disclosed to date, the analyst tells investors. Looking to 2024, Johnson & Johnson’s (JNJ) aticaprant, which shares the same mechanism of action as Neumora’s lead asset navacaprant for major depressive disorder, or MDD, is expected to report the first Phase 3 data in adjunctive MDD in mid-2024, the analyst noted.