Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) was upgraded by investment analysts at Cantor Fitzgerald to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports. Cantor Fitzgerald also issued estimates for Mind Medicine (MindMed)'s FY2025 earnings at ($1.39) EPS.
A number of other research analysts have also weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $55.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday, March 7th. Robert W. Baird lowered their target price on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Chardan Capital restated a "buy" rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Friday, May 9th. Finally, Evercore ISI started coverage on shares of Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They issued an "outperform" rating and a $23.00 price objective for the company. Nine research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, Mind Medicine (MindMed) has an average rating of "Buy" and a consensus target price of $25.11.
Check Out Our Latest Stock Analysis on MNMD
Mind Medicine (MindMed) Stock Up 0.8%
NASDAQ MNMD traded up $0.05 on Tuesday, hitting $6.60. 660,046 shares of the company were exchanged, compared to its average volume of 1,373,326. The company has a market cap of $497.43 million, a PE ratio of -2.92 and a beta of 2.52. Mind Medicine has a 12 month low of $4.70 and a 12 month high of $10.44. The stock has a fifty day moving average of $6.12 and a 200-day moving average of $6.95. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09.
Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.35) earnings per share for the quarter, beating analysts' consensus estimates of ($0.36) by $0.01. As a group, analysts forecast that Mind Medicine will post -1.35 earnings per share for the current year.
Insiders Place Their Bets
In related news, CEO Robert Barrow sold 21,208 shares of Mind Medicine (MindMed) stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $6.74, for a total value of $142,941.92. Following the sale, the chief executive officer now owns 856,556 shares of the company's stock, valued at approximately $5,773,187.44. The trade was a 2.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Karlin sold 6,836 shares of Mind Medicine (MindMed) stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total transaction of $46,074.64. Following the completion of the sale, the insider now directly owns 446,177 shares in the company, valued at $3,007,232.98. This trade represents a 1.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,391 shares of company stock valued at $204,835 in the last 90 days. 2.45% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Mind Medicine (MindMed)
Hedge funds have recently modified their holdings of the stock. Diadema Partners LP bought a new stake in shares of Mind Medicine (MindMed) in the 4th quarter worth approximately $33,000. Hollencrest Capital Management raised its holdings in shares of Mind Medicine (MindMed) by 10,833.3% in the 4th quarter. Hollencrest Capital Management now owns 7,216 shares of the company's stock worth $50,000 after purchasing an additional 7,150 shares during the period. Black Swift Group LLC bought a new stake in shares of Mind Medicine (MindMed) in the 1st quarter worth approximately $63,000. CreativeOne Wealth LLC bought a new stake in shares of Mind Medicine (MindMed) in the 1st quarter worth approximately $67,000. Finally, King Wealth Management Group bought a new stake in shares of Mind Medicine (MindMed) in the 4th quarter worth approximately $70,000. 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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