Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD – Get Free Report) have earned an average rating of “Buy” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $26.75.
A number of research analysts recently issued reports on the company. Leerink Partners started coverage on Mind Medicine (MindMed) in a research note on Monday, October 14th. They set an “outperform” rating and a $20.00 target price for the company. Canaccord Genuity Group lowered their price objective on Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Leerink Partnrs upgraded shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Friday, October 11th. Chardan Capital started coverage on shares of Mind Medicine (MindMed) in a research report on Friday, December 20th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of Mind Medicine (MindMed) in a research report on Monday, November 11th.
Get Our Latest Stock Analysis on Mind Medicine (MindMed)
Insider Buying and Selling at Mind Medicine (MindMed)
Hedge Funds Weigh In On Mind Medicine (MindMed)
Several institutional investors have recently bought and sold shares of MNMD. Barclays PLC lifted its holdings in shares of Mind Medicine (MindMed) by 203.6% in the 3rd quarter. Barclays PLC now owns 136,098 shares of the company’s stock valued at $775,000 after buying an additional 91,271 shares during the period. Bank of New York Mellon Corp lifted its holdings in Mind Medicine (MindMed) by 472.7% in the second quarter. Bank of New York Mellon Corp now owns 246,208 shares of the company’s stock valued at $1,775,000 after acquiring an additional 203,216 shares during the period. Wellington Management Group LLP boosted its position in shares of Mind Medicine (MindMed) by 142.6% during the 3rd quarter. Wellington Management Group LLP now owns 185,722 shares of the company’s stock worth $1,057,000 after purchasing an additional 109,152 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Mind Medicine (MindMed) by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,677,702 shares of the company’s stock worth $9,548,000 after purchasing an additional 162,933 shares during the period. Finally, Rhumbline Advisers purchased a new position in shares of Mind Medicine (MindMed) in the 2nd quarter valued at about $679,000. 27.91% of the stock is owned by institutional investors and hedge funds.
Mind Medicine (MindMed) Stock Performance
Shares of MNMD stock opened at $7.07 on Friday. The firm has a 50 day moving average of $7.41 and a two-hundred day moving average of $6.96. The stock has a market capitalization of $518.46 million, a PE ratio of -3.13 and a beta of 2.60. 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 $3.49 and a 52 week high of $12.22.
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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