MIRA Pharmaceuticals (NASDAQ:MIRA) Receives New Coverage from Analysts at Rodman & Renshaw

Rodman & Renshaw started coverage on shares of MIRA Pharmaceuticals (NASDAQ:MIRA) in a research report sent to investors on Monday morning, Benzinga reports. The firm issued a buy rating and a $17.00 price objective on the stock.

Separately, Ascendiant Capital Markets began coverage on MIRA Pharmaceuticals in a research report on Monday, August 5th. They issued a buy rating and a $11.00 target price on the stock.

MIRA Pharmaceuticals Stock Up 0.8 %

Shares of MIRA stock opened at $1.20 on Monday. The company has a 50 day moving average price of $1.77 and a 200-day moving average price of $1.20. MIRA Pharmaceuticals has a 52 week low of $0.51 and a 52 week high of $6.40. The firm has a market capitalization of $17.74 million and a PE ratio of -1.79.

MIRA Pharmaceuticals (NASDAQ:MIRA) last announced its earnings results on Tuesday, August 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Analysts anticipate that MIRA Pharmaceuticals will post -0.6 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MIRA. Virtu Financial LLC raised its holdings in MIRA Pharmaceuticals by 330.2% in the 1st quarter. Virtu Financial LLC now owns 63,055 shares of the company’s stock worth $69,000 after purchasing an additional 48,397 shares during the period. Suncoast Equity Management purchased a new stake in MIRA Pharmaceuticals in the first quarter worth about $44,000. Cross Staff Investments Inc purchased a new stake in MIRA Pharmaceuticals in the first quarter worth about $422,000. Finally, Praetorian Wealth Management Inc. bought a new position in shares of MIRA Pharmaceuticals in the first quarter worth about $30,000. Hedge funds and other institutional investors own 35.16% of the company’s stock.

About MIRA Pharmaceuticals

MIRA Pharmaceuticals, Inc operates as a pre-clinical-stage pharmaceutical development company with two neuroscience programs targeting a range of neurologic and neuropsychiatric disorders. The company holds exclusive U.S., Canadian, and Mexican rights for Ketamir-2, a patent pending oral ketamine analog under investigation to deliver ultra-rapid antidepressant effects for individuals battling treatment-resistant depression, major depressive disorder with suicidal ideation, and post-traumatic stress disorder.