Neumora Therapeutics, Inc.

NasdaqGS:NMRA Stock Report

Market Cap: US$1.6b

Neumora Therapeutics Valuation

Is NMRA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NMRA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NMRA ($9.67) is trading below our estimate of fair value ($33.3)

Significantly Below Fair Value: NMRA is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NMRA?

Key metric: As NMRA is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for NMRA. This is calculated by dividing NMRA's market cap by their current book value.
What is NMRA's PB Ratio?
PB Ratio4.9x
BookUS$320.74m
Market CapUS$1.57b

Price to Book Ratio vs Peers

How does NMRA's PB Ratio compare to its peers?

The above table shows the PB ratio for NMRA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average8x
HROW Harrow
25.8x83.7%US$1.5b
SAVA Cassava Sciences
1.2x65.3%US$1.3b
GPCR Structure Therapeutics
2.2x-27.6%US$1.9b
ARVN Arvinas
2.9x12.2%US$1.8b
NMRA Neumora Therapeutics
4.9x14.1%US$1.6b

Price-To-Book vs Peers: NMRA is good value based on its Price-To-Book Ratio (4.9x) compared to the peer average (8x).

Price to Book Ratio vs Industry

How does NMRA's PB Ratio compare vs other companies in the US Pharmaceuticals Industry?

23 CompaniesPrice / BookEstimated GrowthMarket Cap
SHWZ Medicine Man Technologies
0.09xn/aUS$8.82m
TNFA TNF Pharmaceuticals
0.2xn/aUS$3.69m
UPC Universe Pharmaceuticals
0.1xn/aUS$3.04m
CYTO Altamira Therapeutics
0.2x-5.9%US$1.44m
NMRA 4.9xIndustry Avg. 1.7xNo. of Companies28PB01.22.43.64.86+
23 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: NMRA is expensive based on its Price-To-Book Ratio (4.9x) compared to the US Pharmaceuticals industry average (1.8x).

Price to Book Ratio vs Fair Ratio

What is NMRA's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NMRA PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio4.9x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate NMRA's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NMRA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$9.67
US$23.33
+141.2%
18.8%US$30.00US$15.00n/a9
Nov ’25US$11.17
US$24.04
+115.2%
15.3%US$30.00US$18.00n/a9
Oct ’25US$13.50
US$24.04
+78.1%
15.3%US$30.00US$18.00n/a9
Sep ’25US$11.50
US$23.30
+102.6%
13.8%US$29.00US$18.00n/a8
Aug ’25US$12.63
US$23.26
+84.1%
13.7%US$29.00US$18.00n/a8
Jul ’25US$9.94
US$23.84
+139.9%
14.2%US$29.00US$18.00n/a6
Jun ’25US$9.90
US$23.84
+140.8%
14.2%US$29.00US$18.00n/a6
May ’25US$9.10
US$24.71
+171.6%
9.9%US$29.00US$22.00n/a6
Apr ’25US$13.94
US$23.61
+69.4%
21.4%US$31.00US$13.00n/a7
Mar ’25US$18.05
US$21.10
+16.9%
18.3%US$26.00US$13.00n/a7
Feb ’25US$15.25
US$21.10
+38.4%
18.3%US$26.00US$13.00n/a7
Jan ’25US$17.05
US$20.82
+22.1%
19.2%US$26.00US$13.00n/a7
Dec ’24US$12.33
US$22.12
+79.4%
11.7%US$26.00US$18.00n/a6
Nov ’24US$10.79
US$22.64
+109.8%
11.8%US$26.00US$18.00US$11.176

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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