Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Chardan Capital in a research note issued to investors on Friday,Benzinga reports. They presently have a $20.00 price objective on the stock. Chardan Capital's price target would suggest a potential upside of 208.64% from the company's current price.
Other equities analysts have also recently issued research reports about the company. Robert W. Baird dropped their price target on Mind Medicine (MindMed) from $27.00 to $16.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Evercore ISI initiated coverage on shares of Mind Medicine (MindMed) in a report on Tuesday, January 28th. They set an "outperform" rating and a $23.00 price objective for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $55.00 price target on shares of Mind Medicine (MindMed) in a research note on Friday, March 7th. Ten investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $25.11.
Check Out Our Latest Report on Mind Medicine (MindMed)
Mind Medicine (MindMed) Stock Performance
Shares of Mind Medicine (MindMed) stock traded up $0.11 during trading on Friday, hitting $6.48. 515,634 shares of the company's stock traded hands, compared to its average volume of 1,373,496. The business has a 50-day simple moving average of $6.12 and a 200-day simple moving average of $6.95. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00. The stock has a market capitalization of $488.38 million, a P/E ratio of -2.87 and a beta of 2.52. Mind Medicine has a 1 year low of $4.70 and a 1 year high of $10.44.
Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.01. As a group, analysts forecast that Mind Medicine will post -1.35 EPS for the current year.
Insider Activity at Mind Medicine (MindMed)
In other news, CEO Robert Barrow sold 21,208 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total value of $142,941.92. Following the completion of the sale, the chief executive officer now directly 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Karlin sold 6,836 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $6.74, for a total value 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. Over the last quarter, insiders have sold 30,391 shares of company stock worth $204,835. 2.45% of the stock is owned by company insiders.
Institutional Trading of Mind Medicine (MindMed)
A number of hedge funds have recently modified their holdings of MNMD. Diadema Partners LP acquired a new position in shares of Mind Medicine (MindMed) in the 4th quarter valued at $33,000. Hollencrest Capital Management lifted its position in Mind Medicine (MindMed) by 10,833.3% during the 4th quarter. Hollencrest Capital Management now owns 7,216 shares of the company's stock worth $50,000 after buying an additional 7,150 shares in the last quarter. King Wealth Management Group acquired a new position in shares of Mind Medicine (MindMed) during the 4th quarter worth about $70,000. Virtus ETF Advisers LLC acquired a new stake in Mind Medicine (MindMed) during the 4th quarter worth approximately $70,000. Finally, Sharpepoint LLC bought a new position in Mind Medicine (MindMed) in the 4th quarter valued at about $71,000. 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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