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Neumora Therapeutics, Inc (NMRA) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Neumora Therapeutics, Inc $0.47, price $0.50, upside -6.5%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Healthcare · US · ISIN US6409791000

NT Neumora Therapeutics, Inc logo Thin data Sep 27, 2026

Neumora Therapeutics, Inc

NMRA · US

Low PriorityFair Value upside is limited and quality is weak.

Ranks above peers (5/7)
Fair value $0.4675 · Fairly valued (−6.5%)
Quality 44/100
Negative free cash flow
Narrow moat 8/100
Thin data
⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$19.76 $0.5000 Fair Value $0.4675 Sep 2023 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

37‑month range $0.5000 – $19.76 · fair‑value band $0.3060 – $0.5865 · the $0.5000 price screens above the $0.4675 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Neumora Therapeutics, Inc., a clinical-stage biopharmaceutical company, engages in developing therapeutic treatments for brain diseases, neuropsychiatric disorders, and neurodegenerative diseases in the United States.

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Neumora Therapeutics, Inc., a clinical-stage biopharmaceutical company, engages in developing therapeutic treatments for brain diseases, neuropsychiatric disorders, and neurodegenerative diseases in the United States. The company develops navacaprant (NMRA-140), a novel once-daily oral kappa opioid receptor antagonist, which is in phase 3 clinical trials for the treatment of major depressive disorder. It also develops NMRA-511 that is in Phase 1b clinical trials in patients with agitation associated with dementia due to Alzheimer's disease; and NMRA-861 and NMRA-898, a M4 muscarinic receptor positive allosteric modulators (PAMs) for schizophrenia and other neuropsychiatric disorders. In addition, the company's preclinical phase product includes NMRA-GCase, an activator program for the treatment of Parkinson's Disease; NMRA-CK1d, a casein kinase 1 isoform delta (CK1d) inhibitor program for Amyotrophic Lateral Sclerosis; and NMRA-215 a brain-penetrant oral NLRP3 inhibitor for the treatment of obesity. The company was formerly known as RBNC Therapeutics, Inc. and changed its name to Neumora Therapeutics, Inc. in October 2021. Neumora Therapeutics, Inc. was incorporated in 2019 and is headquartered in Watertown, Massachusetts.

Stock analysis

Neumora Therapeutics, Inc (NMRA) currently trades at $0.5000, while our model-based Fair Value estimate is $0.4675, so the stock looks roughly fairly valued today (gap 7.0%).

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the evidence level at low.

Scenario range: $0.3060 (bear) to $0.5865 (bull), the price of $0.5000 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 44/100 (below-average quality), in the Healthcare sector.

Neumora Therapeutics, Inc reported revenue of $0 in FY2025 versus $0 in FY2021. Reported net income was −$237M in FY2025.

Key figures

Market cap $145M · EPS (TTM) $−1.15 · Return on equity −187% · Return on assets (EBIT) −66.9% · Free cash flow −$206M · Net cash $182M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).

What moves the price

The share trades about 86% below its 52-week high and at its 52-week low.

For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at −7%, NMRA screens richer than that median.

Fair Value models

Bear $0.3060 Fair Value $0.4675 Bull $0.5865
Price $0.5000 · Upside -6.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham) $0.2800 $0.3700 $0.5500 51
All 1 models by family
Asset-Based
NCAV (Graham) $0.2800 $0.3700 $0.5500 51

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Quality Score breakdown

Overall quality 44/100

Of which business quality 44 · Market factors (momentum, volatility) 4

Profitability 0
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 62
Earnings quality: real cash, not paper profit
Fin. Strength 70
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 8
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 14
Share count: buybacks or dilution?

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Revenue & earnings trend

What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 605 stocks

Beats the industry median on 5/6 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 44 · Above median
Fair Value upside −6.5% · Above median
Profitability
Return on assets −73.9% · Bottom 25%
Operating margin (TTM) 0.0% · Above median
Growth and dividend
Revenue growth 0.0% · Above median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 1.40× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)25 · sector 0
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 97
DIVIDEND (yield)0 · sector 22

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $527.67 $580.44 +10%
Regeneron Pharmaceuticals, Inc REGN $752.25 $1,275 +69%
argenx SE ARGX $959.49 $918.60 −4%
CSL Limited CSL A$175.35 A$192.89 +10%
Samsung Biologics Co 207940 1,354,000 KRW 1,489,400 KRW +10%
BeOne Medicines AG ONC $360.85 $280.94 −22%
Alnylam Pharmaceuticals, Inc ALNY $255.96 $217.88 −15%
Royalty Pharma plc RPRX $58.21 $19.01 −67%
Celltrion, Inc 068270 177,400 KRW 74,519 KRW −58%
WuXi Biologics (Cayman) Inc 2269 HK$53.00 HK$58.30 +10%

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Neumora Therapeutics, Inc · Fair Value
$0.4675 −7%Fair Value
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Cite: Fair Value Calculator (2026). "Neumora Therapeutics, Inc Fair Value". https://www.fairvalue-calculator.com/stock/NMRA

Frequently asked questions

Is Neumora Therapeutics, Inc (NMRA) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of $0.4675 versus a price of $0.5000, about −7% upside (fairly valued).
What is the fair value of NMRA?
Our model-based fair value for Neumora Therapeutics, Inc is $0.4675 (as of Sep 27, 2026), built from audited fundamentals. The current price: $0.5000.
What is the quality score of NMRA?
Neumora Therapeutics, Inc has a Quality Score of 44/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Neumora Therapeutics, Inc (NMRA)?
Our model-based price target is the fair value of $0.4675 (as of Sep 27, 2026) from 1 valuation models. Cautious scenario $0.3060, optimistic scenario $0.5865. It is a calculation from audited fundamentals, not an analyst target.
What is the Neumora Therapeutics, Inc stock forecast for 2026?
Our models put fair value at $0.4675, about −7% upside versus a price of $0.5000 (fairly valued). Cautious scenario $0.3060, optimistic scenario $0.5865. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Neumora Therapeutics, Inc (NMRA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Neumora Therapeutics, Inc it is $0.4675 per share (as of Sep 27, 2026), against a price of $0.5000. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Neumora Therapeutics, Inc stock overvalued or undervalued in 2026?
As of Sep 27, 2026, NMRA trades above its calculated fair value: price $0.5000, fair value $0.4675, a gap of about −7% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NMRA?
No. The price is what the market pays today ($0.5000); the fair value is what the company's own numbers justify ($0.4675). For Neumora Therapeutics, Inc the two are $0.0325 per share apart. That gap is exactly why we show both numbers side by side.
How much is Neumora Therapeutics, Inc worth?
The market values Neumora Therapeutics, Inc at about $145M (market capitalisation, as of Sep 27, 2026). Per share that is $0.5000; our models calculate a fair value of $0.4675 per share.
What do the bullish and bearish scenarios say about NMRA?
Our models span a range for Neumora Therapeutics, Inc: cautious scenario $0.3060, base $0.4675, optimistic $0.5865 per share (as of Sep 27, 2026, price $0.5000). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Neumora Therapeutics, Inc (NMRA)?
Balance-sheet figures for Neumora Therapeutics, Inc (as of Sep 27, 2026): return on equity −187.1%. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is NMRA from its 52-week high?
Neumora Therapeutics, Inc trades at $0.5000, about 86% below its 52-week high of $3.59 and at the low of $0.5000 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $0.4675 is for.
Which stocks are comparable to Neumora Therapeutics, Inc?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, CSL Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Neumora Therapeutics, Inc stock attractive at the current price?
The data as of Sep 27, 2026: price $0.5000, calculated fair value $0.4675 (−7%), Quality Score 44/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of NMRA calculated?
We run Neumora Therapeutics, Inc through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $0.4675, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. Neumora Therapeutics, Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Neumora Therapeutics, Inc (NMRA)?
The closing price on Oct 2, 2026 was $0.5000. Our model-based fair value is $0.4675, about −7% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Neumora Therapeutics, Inc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($0.3060 to $0.5865) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Neumora Therapeutics, Inc

How large is the market capitalisation of Neumora Therapeutics, Inc (NMRA)?
The market capitalisation of Neumora Therapeutics, Inc is $145M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Neumora Therapeutics, Inc (NMRA)?
Earnings per share at Neumora Therapeutics, Inc are $−1.15. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Neumora Therapeutics, Inc (NMRA)?
The return on equity (ROE) of Neumora Therapeutics, Inc is −187% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Neumora Therapeutics, Inc (NMRA)?
On an EBIT basis the return on assets of Neumora Therapeutics, Inc is −66.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How much free cash flow does Neumora Therapeutics, Inc (NMRA) generate?
The free cash flow of Neumora Therapeutics, Inc is −$206M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Neumora Therapeutics, Inc (NMRA) hold?
Neumora Therapeutics, Inc holds more cash than debt, $182M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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