Ruifeng: Core new drug NMRA-861 is expected to reach sales of $1.2 billion, raising the target price of Neumora (NMRA.US) to $5.

Raymond James analyst Graig Suvannavejh released a research report, raising the target price of Neumora Therapeutics (NMRA.US) from $4 to $5 and maintaining an "outperform" rating. This rating adjustment stems from Neumora's announcement on July 9 that it has initiated a Phase 1 clinical trial for NMRA-861. This single ascending dose/multiple ascending dose (SAD/MAD) study will be conducted in stable adult patients with schizophrenia. NMRA-861 is a potent, selective positive allosteric modulator (PAM) that the company is developing for the treatment of schizophrenia and other neuropsychiatric disorders. Raymond James predicts that the drug is expected to be launched in the United States in 2034, with estimated sales of $1.2 billion in 2037 on a risk-adjusted basis. The analyst believes that at the current stock price level, the stock has a favorable risk-reward ratio, supporting the optimistic expectations for Neumora Therapeutics. As a clinical-stage biotechnology company, Neumora is dedicated to providing precision medicine solutions for brain disorders by integrating neuroscience and data science. The company focuses on developing innovative drugs targeting therapies for central nervous system-related diseases.