Neumora Therapeutics price target lowered to $6 from $26 at Stifel

Stifel lowered the firm’s price target on Neumora Therapeutics (NMRA) to $6 from $26 and keeps a Buy rating on the shares after the company announced it temporarily paused the KOSTAL2/3 studies for navacaprant in major depressive disorder and made various modifications, seeking to improve trial conduct and increase probability-of-success. While all of these changes are “logical,” it “remains near impossible to deduce whether KOSTAL-1 failed due to issues with the study, or simple lack-of-efficacy from the drug,” the analyst tells investors.