Bank of America sees 51% upside for this biotech firm that could transform the current landscape of neuroscience treatment.
Neumora Therapeutics could transform the current neuroscience treatment landscape, according to Bank of America. The firm initiated coverage of the biotech company on Tuesday with a buy rating. Analyst Geoff Meacham's $18 price objective implies a potential upside of 51% from the stock's $11.94 closing price on Monday. Meacham cited the firm's strong pipeline of novel drugs and treatments as a catalyst.
"Several of these drugs, including navacaprant for major depressive disorder /bipolar depression, and NMRA-266 for schizophrenia, have been clinically validated and/or have a strong scientific rationale," the analyst wrote. "Overall, the diverse pipeline and targets provide multiple opportunities for Neumora to potentially become one of the largest neuro-focused biotech companies.
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