Neumora shares surge 22.58% after-hours as Mizuho reiterates Outperform rating on Alzheimer's drug trial success.

Neumora Therapeutics (NASDAQ:NMRA) surged 22.58% in after-hours trading following a series of positive developments. Mizuho reiterated an Outperform rating with a $6.00 price target, citing Neumora’s Phase 1b trial success for NMRA-511 in Alzheimer’s agitation, which showed a clinically meaningful reduction in agitation scores and a favorable safety profile. The firm also highlighted potential validation of Neumora’s NLRP3 inhibitor program amid speculation of Eli Lilly acquiring Ventyx Pharmaceuticals, a competitor in the same therapeutic area. RBC Capital upgraded Neumora to Outperform with a $7.00 price target, while Stifel raised its target to $3.00, emphasizing the company’s early-stage pipeline and 2026 milestones, including Phase 3 trials for navacaprant. These analyst upgrades and clinical progress, coupled with industry-specific M&A speculation, drove the sharp after-hours rally despite Neumora’s ongoing cash burn and volatility.