Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Receives $25.50 Consensus Target Price from Analysts

Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) have been given an average recommendation of "Buy" by the eleven ratings firms that are covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $25.50.

A number of analysts have recently issued reports on MNMD shares. Cantor Fitzgerald upgraded shares of Mind Medicine (MindMed) to a "strong-buy" rating in a research note on Tuesday, May 13th. Chardan Capital restated a "buy" rating and set a $20.00 target price on shares of Mind Medicine (MindMed) in a research note on Friday, May 9th.

Insiders Place Their Bets

In other Mind Medicine (MindMed) news, insider Daniel Karlin sold 7,848 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $6.80, for a total transaction of $53,366.40. Following the sale, the insider directly owned 438,329 shares of the company's stock, valued at $2,980,637.20. The trade was a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert Barrow sold 26,491 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $6.80, for a total transaction of $180,138.80. Following the sale, the chief executive officer directly owned 830,065 shares in the company, valued at $5,644,442. The trade was a 3.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,830 shares of company stock valued at $311,644 in the last ninety days. 2.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mind Medicine (MindMed)

A number of institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP boosted its stake in shares of Mind Medicine (MindMed) by 9.3% in the 4th quarter. Marshall Wace LLP now owns 2,501,391 shares of the company's stock valued at $17,410,000 after purchasing an additional 213,526 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Mind Medicine (MindMed) by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,723,088 shares of the company's stock valued at $11,996,000 after purchasing an additional 45,386 shares during the last quarter. AWM Investment Company Inc. boosted its stake in shares of Mind Medicine (MindMed) by 1.3% in the 1st quarter. AWM Investment Company Inc. now owns 1,208,162 shares of the company's stock valued at $7,068,000 after purchasing an additional 15,000 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Mind Medicine (MindMed) by 0.3% in the 4th quarter. Woodline Partners LP now owns 1,005,198 shares of the company's stock valued at $6,996,000 after purchasing an additional 2,654 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Mind Medicine (MindMed) by 12.6% in the 4th quarter. Northern Trust Corp now owns 684,836 shares of the company's stock valued at $4,766,000 after purchasing an additional 76,559 shares during the last quarter. 27.91% of the stock is owned by institutional investors.

Mind Medicine (MindMed) Stock Performance

Shares of MNMD traded up $0.03 during midday trading on Friday, reaching $7.20. The stock had a trading volume of 1,327,467 shares, compared to its average volume of 1,326,789. The firm has a 50 day simple moving average of $6.99 and a 200-day simple moving average of $6.88. Mind Medicine has a one year low of $4.70 and a one year high of $10.44. The firm has a market cap of $543.96 million, a PE ratio of -5.58 and a beta of 2.45. The company has a current ratio of 7.27, a quick ratio of 7.27 and a debt-to-equity ratio of 0.10.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.36) by $0.01. As a group, sell-side analysts anticipate that Mind Medicine will post -1.35 EPS for the current 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.