Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Given Consensus Rating of "Buy" by Analysts

Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) have earned a consensus rating of "Buy" from the thirteen analysts that are currently covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $25.11.

A number of equities research analysts recently weighed in on the stock. Chardan Capital reaffirmed a "buy" rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a research report on Friday, May 9th. Robert W. Baird reduced their price objective on Mind Medicine (MindMed) from $27.00 to $16.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Evercore ISI initiated coverage on shares of Mind Medicine (MindMed) in a research report on Tuesday, January 28th. They issued an "outperform" rating and a $23.00 target price for the company. Finally, HC Wainwright reiterated a "buy" rating and issued a $55.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, March 7th.

Insider Buying and Selling at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 21,208 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $6.74, for a total transaction of $142,941.92. Following the transaction, the chief executive officer now owns 856,556 shares in the company, valued at $5,773,187.44. This represents a 2.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Karlin sold 6,836 shares of the business's stock in a transaction dated 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 transaction, the insider now directly owns 446,177 shares of the company's stock, valued at approximately $3,007,232.98. This trade represents a 1.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,391 shares of company stock worth $204,835. Company insiders own 2.45% of the company's stock.

Hedge Funds Weigh In On Mind Medicine (MindMed)

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Diadema Partners LP acquired a new position in shares of Mind Medicine (MindMed) during the fourth quarter worth $33,000. Hollencrest Capital Management lifted its position in shares of Mind Medicine (MindMed) by 10,833.3% during the 4th quarter. Hollencrest Capital Management now owns 7,216 shares of the company's stock valued at $50,000 after acquiring an additional 7,150 shares during the period. Black Swift Group LLC acquired a new stake in Mind Medicine (MindMed) in the first quarter worth $63,000. CreativeOne Wealth LLC bought a new position in shares of Mind Medicine (MindMed) during the 1st quarter worth about $67,000. Finally, King Wealth Management Group acquired a new stake in shares of Mind Medicine (MindMed) in the 4th quarter valued at about $70,000. Institutional investors own 27.91% of the company's stock.

Mind Medicine (MindMed) Stock Up 2.7%

Shares of NASDAQ:MNMD opened at $6.54 on Thursday. The company has a quick ratio of 9.00, a current ratio of 9.00 and a debt-to-equity ratio of 0.09. Mind Medicine has a 52-week low of $4.70 and a 52-week high of $10.44. The company has a 50 day moving average of $6.11 and a two-hundred day moving average of $6.95. The company has a market capitalization of $492.91 million, a price-to-earnings ratio of -2.89 and a beta of 2.52.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.35) EPS 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 fiscal year.

Mind Medicine (MindMed) Company Profile

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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