Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Given Average Rating of “Buy” by Analysts

by · The Markets Daily

Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD – Get Free Report) have earned a consensus recommendation of “Buy” from the twelve analysts that are presently covering the company, MarketBeat.com reports. Ten investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $25.38.

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group decreased their price objective on shares of Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, September 16th. HC Wainwright lifted their price objective on shares of Mind Medicine (MindMed) from $35.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Roth Capital raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mind Medicine (MindMed) in a research report on Friday, June 21st. Finally, Roth Mkm initiated coverage on shares of Mind Medicine (MindMed) in a research note on Wednesday, July 24th. They set a “buy” rating and a $36.00 price target on the stock.

View Our Latest Research Report on Mind Medicine (MindMed)

Insider Buying and Selling

In related news, CEO Robert Barrow sold 19,771 shares of Mind Medicine (MindMed) stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $5.98, for a total transaction of $118,230.58. Following the sale, the chief executive officer now owns 545,772 shares of the company’s stock, valued at $3,263,716.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 19,771 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $5.98, for a total transaction of $118,230.58. Following the completion of the transaction, the chief executive officer now directly owns 545,772 shares of the company’s stock, valued at $3,263,716.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dan Karlin sold 6,871 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total transaction of $41,088.58. Following the transaction, the insider now directly owns 344,656 shares of the company’s stock, valued at approximately $2,061,042.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,994 shares of company stock valued at $173,384 in the last quarter. Company insiders own 2.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SageView Advisory Group LLC acquired a new position in shares of Mind Medicine (MindMed) in the 1st quarter valued at about $25,000. Bridgewealth Advisory Group LLC bought a new stake in Mind Medicine (MindMed) in the 2nd quarter valued at about $72,000. Wealth Alliance bought a new stake in shares of Mind Medicine (MindMed) during the 2nd quarter worth about $79,000. Arizona State Retirement System bought a new position in shares of Mind Medicine (MindMed) in the second quarter valued at approximately $114,000. Finally, SG Americas Securities LLC acquired a new position in shares of Mind Medicine (MindMed) during the 3rd quarter valued at $93,000. 27.91% of the stock is owned by institutional investors and hedge funds.

Mind Medicine (MindMed) Stock Performance

Shares of MNMD stock opened at $5.57 on Wednesday. The company has a quick ratio of 5.92, a current ratio of 5.92 and a debt-to-equity ratio of 0.12. Mind Medicine has a 52 week low of $2.41 and a 52 week high of $12.22. The stock has a market capitalization of $400.33 million, a PE ratio of -1.89 and a beta of 2.52. The firm has a 50 day moving average of $6.47 and a two-hundred day moving average of $7.87.

Mind Medicine (MindMed) (NASDAQ:MNMD – Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.18). On average, research analysts predict that Mind Medicine will post -1.27 EPS for the current fiscal year.

About Mind Medicine (MindMed)

(Get Free Report

Mind Medicine (MindMed) Inc, a clinical stage biopharmaceutical company, develops novel products to treat brain health disorders. The company’s lead product candidates include MM-120, which is in phase 2 for the treatment of generalized anxiety disorder and attention deficit hyperactivity disorder; and MM-402, a R-enantiomer of 3,4-methylenedioxymethamphetamine, which is in phase I clinical trials for the treatment of core symptoms of autism spectrum disorder.

Featured Articles