Neumora Therapeutics price target lowered to $4 from $20 at Mizuho

Mizuho analyst Graig Suvannavejh lowered the firm’s price target on Neumora Therapeutics (NMRA) to $4 from $20 and keeps an Outperform rating on the shares ahead of the Q4 update on March 3. The target cut follows last month’s announcement of disappointingly negative first Phase 3 KOASTAL-1/K-1 study data for lead asset navacaprant in major depressive disorder, the analyst tells investors in a research note. The firm still sees multiple data catalysts in 2025 for Neumora.