Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD – Get Free Report) have received a consensus recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.67.
Several brokerages have recently weighed in on MNMD. Royal Bank of Canada increased their price objective on shares of Mind Medicine (MindMed) from $5.00 to $7.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. HC Wainwright reiterated a “buy” rating and set a $75.00 price target on shares of Mind Medicine (MindMed) in a report on Friday, August 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 price target on shares of Mind Medicine (MindMed) in a report on Tuesday, August 22nd.
Insider Buying and Selling at Mind Medicine (MindMed)
Institutional Trading of Mind Medicine (MindMed)
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC boosted its position in Mind Medicine (MindMed) by 1,063.1% in the 2nd quarter. Millennium Management LLC now owns 5,075,110 shares of the company’s stock valued at $3,249,000 after buying an additional 4,638,774 shares during the period. LPL Financial LLC purchased a new stake in Mind Medicine (MindMed) during the second quarter worth $496,000. Cubist Systematic Strategies LLC acquired a new position in Mind Medicine (MindMed) during the second quarter worth $328,000. State Street Corp raised its position in shares of Mind Medicine (MindMed) by 7.3% in the first quarter. State Street Corp now owns 6,145,503 shares of the company’s stock valued at $6,822,000 after buying an additional 416,765 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new stake in Mind Medicine (MindMed) during the fourth quarter worth $619,000. Hedge funds and other institutional investors own 9.73% of the company’s stock.
Mind Medicine (MindMed) Stock Up 0.3 %
Shares of MNMD stock opened at $3.81 on Tuesday. Mind Medicine has a 12-month low of $2.12 and a 12-month high of $12.88. The firm has a market capitalization of $151.33 million, a price-to-earnings ratio of -1.91 and a beta of 2.15. The firm has a fifty day moving average of $4.08 and a 200-day moving average of $3.65.
Mind Medicine (MindMed) (NASDAQ:MNMD – Get Free Report) last announced its earnings results on Thursday, August 3rd. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.18). Research analysts expect that Mind Medicine will post -2.49 earnings per share for the current year.
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 for the treatment of core symptoms of autism spectrum disorder.
- Five stocks we like better than Mind Medicine (MindMed)
- Want to Profit on the Downtrend? Downtrends, Explained.
- 3 Reasons High-Yield Bloomin’ Brands is About to Blossom
- What Makes a Stock a Good Dividend Stock?
- 5 Computer Vision Stocks with a Clear Path to Growth
- What’s a Sound Playbook for Investors During Election Years?
- 3 Reasons Workday Stock Is Setting Up For A New Rally
Receive News & Ratings for Mind Medicine (MindMed) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mind Medicine (MindMed) and related companies with MarketBeat.com's FREE daily email newsletter.