Is NKTR or NMRA more undervalued in 2026?

CirclFi compares Nektar Therapeutics (NKTR) and Neumora Therapeutics, Inc. (NMRA) using 13 institutional-grade valuation models. NKTR has a Quality of Company score of 5.9/10 while NMRA scores 3.8/10.

Which is a better buy — NKTR or NMRA?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do NKTR and NMRA valuations compare?

NKTR at $65.01 and NMRA at $1.88 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

NKTR vs NMRA Valuation Comparison 2026 — Intrinsic Value Analysis

NKTR

Biotechnology

Nektar Therapeutics

Quality

5.9

out of 10

Value Trap

SAFE

Price

$65.01

Last close

Models

12/13

Active

NMRA

Biotechnology

Neumora Therapeutics, Inc.

Quality

3.8

out of 10

Value Trap

LOW

Price

$1.88

Last close

Models

7/13

Active

Model-by-Model Comparison

Model	Type	NKTR Fair Value	NKTR Upside	NMRA Fair Value	NMRA Upside
Bayesian DCF	Intrinsic	$18.82	-71.1%	$0.82	-56.5%
Earnings Power Value	Intrinsic	$5.62	-93.5%	—	—
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$9.48	-85.4%	$1.55	-17.4%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%

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NKTR vs NMRA — Which Stock Is More Undervalued?

NKTR scores higher with a 5.9/10 quality rating vs NMRA's 3.8/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Nektar Therapeutics (NKTR) and Neumora Therapeutics, Inc. (NMRA) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

NKTR currently trades at $65.01 with a QOC of 5.9/10, while NMRA trades at $1.88 with a QOC of 3.8/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).