HC Wainwright Reiterates Buy Rating for Mind Medicine (MindMed) (NASDAQ:MNMD)

HC Wainwright reiterated their buy rating on shares of Mind Medicine (MindMed) (NASDAQ:MNMDFree Report) in a research note released on Friday, Benzinga reports. They currently have a $35.00 target price on the stock.

A number of other research firms also recently weighed in on MNMD. SVB Leerink initiated coverage on shares of Mind Medicine (MindMed) in a report on Monday, April 15th. They set an outperform rating and a $20.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Mind Medicine (MindMed) from $14.00 to $15.00 and gave the stock an outperform rating in a research report on Thursday, February 29th. Leerink Partnrs restated an outperform rating on shares of Mind Medicine (MindMed) in a report on Monday, April 15th. Finally, Oppenheimer reissued an outperform rating and issued a $20.00 price objective (down previously from $29.00) on shares of Mind Medicine (MindMed) in a research report on Monday, May 13th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $17.67.

View Our Latest Stock Analysis on MNMD

Mind Medicine (MindMed) Stock Up 3.5 %

Mind Medicine (MindMed) stock traded up $0.28 during mid-day trading on Friday, hitting $8.23. The company’s stock had a trading volume of 974,867 shares, compared to its average volume of 1,145,554. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.07. Mind Medicine has a 1 year low of $2.41 and a 1 year high of $12.22. The stock’s fifty day moving average is $9.41 and its two-hundred day moving average is $6.01.

Mind Medicine (MindMed) (NASDAQ:MNMDGet Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). Sell-side analysts expect that Mind Medicine will post -1.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 16,519 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $9.50, for a total transaction of $156,930.50. Following the transaction, the chief executive officer now owns 580,202 shares in the company, valued at $5,511,919. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Dan Karlin sold 6,578 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $9.50, for a total value of $62,491.00. Following the sale, the insider now directly owns 358,452 shares in the company, valued at approximately $3,405,294. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Barrow sold 16,519 shares of Mind Medicine (MindMed) stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $9.50, for a total value of $156,930.50. Following the sale, the chief executive officer now owns 580,202 shares in the company, valued at approximately $5,511,919. The disclosure for this sale can be found here. 2.26% of the stock is currently owned by company insiders.

Institutional Trading of Mind Medicine (MindMed)

A number of institutional investors have recently modified their holdings of MNMD. Blackstone Inc. purchased a new position in Mind Medicine (MindMed) in the first quarter valued at about $11,749,000. Janus Henderson Group PLC bought a new position in Mind Medicine (MindMed) during the first quarter valued at about $8,964,000. AWM Investment Company Inc. acquired a new stake in Mind Medicine (MindMed) during the first quarter valued at approximately $7,830,000. Tidal Investments LLC acquired a new position in shares of Mind Medicine (MindMed) in the 1st quarter worth approximately $1,698,000. Finally, Scotia Capital Inc. bought a new stake in shares of Mind Medicine (MindMed) during the 4th quarter valued at $441,000. 27.91% of the stock is currently owned by hedge funds and other institutional investors.

Mind Medicine (MindMed) Company Profile

(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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Analyst Recommendations for Mind Medicine (MindMed) (NASDAQ:MNMD)

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