#1 - Mind Medicine (NASDAQ:MNMD)
Mental health continues to be one of the growing sectors in biotechnology. However, even as more attention is being paid to mental health, there are still few approved treatments That’s where Mind Medicine, Inc. (NASDAQ: MNMD) comes in.
Mind Medicine or MindMed is a clinical-stage biotechnology company that is developing therapies and treatments to treat brain health disorders related to psychiatry (ADHD, anxiety, etc.), addiction, pain, and neurology.
The lead candidate (MM-120) for the Canadian-based company is in Stage 2 clinical trials. In its investor presentation in June 2023, the company announced it was expecting results for MM-120 in two therapeutic areas later this year. That being said, MindMed is still probably a year or more away from having the therapeutic eligible for FDA approval.
But if investors are willing to speculate on MNMD stock while it’s still trading below $5, there may be some upside. The MInd Medicine analyst ratings on MarketBeat give the stock a Buy rating with a 473% price target increase.
About Mind Medicine (MindMed)
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.
Read More - Current Price
- $8.13
- Consensus Rating
- Buy
- Ratings Breakdown
- 7 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $17.67 (117.4% Upside)
