Neumora Therapeutics, Inc (NMRA) Fair Value & Analysis

Healthcare · US · Market cap $286M

Below-average quality, and screening another 66% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case ($0.6900). The favourable scenario is already priced in.
• The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
• Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
• A fairly wide model range ($0.3600 to $0.6900) leaves room in how you read the outcome.

Price vs Fair Value (3 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

35‑month range $0.6151 – $19.76 · fair‑value band $0.3600 – $0.6900 · the $1.64 price screens above the $0.5500 fair value. Dashed = 300-day average. As of Aug 19, 2026.

Full chart & analysis →

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Analysis

Neumora Therapeutics, Inc (NMRA) currently trades at $1.64, while our model-based Fair Value estimate is $0.5500, implying the stock looks roughly 66.5% overvalued today. The Quality Score stands at 47/100 (below-average quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

The balance sheet holds a net cash position of $182M. Fundamentals as of Aug 19, 2026

Our scenario range runs from $0.3600 (bear case) to $0.6900 (bull case); at $1.64, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 55% below its 52-week high and 129% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -63% fair-value upside, at -66%, NMRA screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Key figures & financial health

Quality Score breakdown

About the company

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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

NMRA screens 66% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

Peer Group

Biotechnology · 616 stocks

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.

Valuation Multiples vs Biotechnology median · lower = cheaper

Values & ESG

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.