Mind Medicine (MindMed)’s (MNMD) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Mind Medicine (MindMed) (NASDAQ:MNMDFree Report) in a research note published on Friday, Benzinga reports.

Several other research analysts have also issued reports on the stock. Robert W. Baird began coverage on shares of Mind Medicine (MindMed) in a research note on Tuesday, May 28th. They set an outperform rating and a $27.00 target price on the stock. HC Wainwright reiterated a buy rating and issued a $35.00 target price on shares of Mind Medicine (MindMed) in a report on Friday, May 24th. Oppenheimer restated an outperform rating and set a $20.00 price objective (down previously from $29.00) on shares of Mind Medicine (MindMed) in a report on Monday, May 13th. Royal Bank of Canada restated an outperform rating and set a $22.00 price objective on shares of Mind Medicine (MindMed) in a report on Wednesday, June 5th. Finally, SVB Leerink initiated coverage on shares of Mind Medicine (MindMed) in a research report on Monday, April 15th. They set an outperform rating and a $20.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $20.00.

Check Out Our Latest Analysis on MNMD

Mind Medicine (MindMed) Trading Up 1.5 %

Shares of NASDAQ MNMD opened at $7.36 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.91 and a current ratio of 3.91. Mind Medicine has a 52-week low of $2.41 and a 52-week high of $12.22. The firm has a 50 day moving average price of $8.51 and a two-hundred day moving average price of $6.73. The stock has a market cap of $517.19 million, a P/E ratio of -2.50 and a beta of 2.64.

Mind Medicine (MindMed) (NASDAQ:MNMDGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.06. As a group, equities analysts forecast that Mind Medicine will post -1.36 EPS for the current year.

Hedge Funds Weigh In On Mind Medicine (MindMed)

A number of large investors have recently modified their holdings of MNMD. SageView Advisory Group LLC bought a new stake in Mind Medicine (MindMed) during the first quarter valued at approximately $25,000. Regal Investment Advisors LLC purchased a new position in shares of Mind Medicine (MindMed) during the third quarter worth approximately $46,000. Bailard Inc. purchased a new position in shares of Mind Medicine (MindMed) during the fourth quarter worth approximately $63,000. Sequoia Financial Advisors LLC purchased a new position in shares of Mind Medicine (MindMed) in the first quarter worth $168,000. Finally, Mitchell Mcleod Pugh & Williams Inc. purchased a new position in shares of Mind Medicine (MindMed) in the fourth quarter worth $73,000. 27.91% of the stock is currently owned by 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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