Mind Medicine (MindMed) (NASDAQ:MNMD) Upgraded at Leerink Partnrs

by · The Markets Daily

Leerink Partnrs upgraded shares of Mind Medicine (MindMed) (NASDAQ:MNMD – Free Report) to a strong-buy rating in a research note released on Friday, Zacks.com reports.

A number of other equities research analysts also recently commented on the company. Roth Capital raised Mind Medicine (MindMed) to a strong-buy rating in a report on Wednesday, July 24th. Cantor Fitzgerald reiterated an overweight rating on shares of Mind Medicine (MindMed) in a research note on Friday, June 21st. HC Wainwright upped their target price 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. Canaccord Genuity Group reduced their price target 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. Finally, Roth Mkm started coverage on 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. Nine analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Mind Medicine (MindMed) presently has an average rating of Buy and a consensus target price of $25.38.

Get Our Latest Analysis on MNMD

Mind Medicine (MindMed) Trading Up 7.4 %

Shares of MNMD stock opened at $5.81 on Friday. The company has a market capitalization of $417.58 million, a P/E ratio of -1.98 and a beta of 2.52. The company has a current ratio of 5.92, a quick ratio of 5.92 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $6.09 and its two-hundred day moving average is $7.67. Mind Medicine has a twelve month low of $2.41 and a twelve month high of $12.22.

Mind Medicine (MindMed) (NASDAQ:MNMD – Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.18). Equities analysts forecast that Mind Medicine will post -1.27 EPS for the current year.

Insider Activity at Mind Medicine (MindMed)

In other news, insider Dan Karlin sold 6,871 shares of Mind Medicine (MindMed) stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total value of $41,088.58. Following the transaction, the insider now directly owns 344,656 shares of the company’s stock, valued at $2,061,042.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Dan Karlin sold 6,871 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $5.98, for a total value of $41,088.58. Following the completion of the sale, the insider now owns 344,656 shares of the company’s stock, valued at $2,061,042.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 in the company, valued at approximately $3,263,716.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,994 shares of company stock worth $173,384. 2.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Mind Medicine (MindMed)

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

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.

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