Neumora Therapeutics, Inc. (NASDAQ:NMRA) is one of the hot penny stocks to invest in now. On July 16, Mizuho analyst Graig Suvannavejh raised the firm’s price target on Neumora Therapeutics, Inc. (NASDAQ:NMRA) to $5 from $4, maintaining an Outperform rating on the shares.
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The rating update came after the introduction of NMRA-861 on July 9, when Neumora Therapeutics, Inc. (NASDAQ:NMRA) announced the initiation of a Phase 1 single-ascending dose/multiple-ascending dose (SAD/MAD) study of NMRA-861 in healthy adult participants with stable schizophrenia.
NMRA-861 is a highly potent and selective positive allosteric modulator (PAM) that Neumora Therapeutics, Inc. (NASDAQ:NMRA) is developing for the treatment of schizophrenia and other neuropsychiatric disorders.
Mizuho estimates a US launch in 2034, with risk-unadjusted NMRA-861 sales reaching $1.2 billion in 2037. It also sees a favorable risk/reward at current share levels, supporting the optimistic outlook on Neumora Therapeutics, Inc. (NASDAQ:NMRA).
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.
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Disclosure: None. This article is originally published at Insider Monkey.