Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Receives Consensus Rating of “Buy” from Analysts

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) has earned a consensus rating of “Buy” from the thirteen research firms that are presently covering the company, Marketbeat.com reports. Ten research analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $25.11.

MNMD has been the topic of a number of recent research reports. Robert W. Baird lowered their target price on Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Oppenheimer restated an “outperform” rating and issued a $20.00 target price on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. Evercore ISI initiated coverage on Mind Medicine (MindMed) in a report on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of Mind Medicine (MindMed) in a report on Friday, March 7th. Finally, Chardan Capital assumed coverage on shares of Mind Medicine (MindMed) in a report on Friday, December 20th. They issued a “buy” rating and a $20.00 target price for the company.

Insider Buying and Selling at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, insider Dan Karlin sold 6,643 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $7.43, for a total transaction of $49,357.49. Following the completion of the sale, the insider now directly owns 338,013 shares in the company, valued at $2,511,436.59. This represents a 1.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert Barrow sold 19,106 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total transaction of $141,957.58. Following the transaction, the chief executive officer now directly owns 526,666 shares in the company, valued at approximately $3,913,128.38. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,022 shares of company stock valued at $208,203 over the last quarter. Corporate insiders own 2.26% of the company’s stock.

Hedge Funds Weigh In On Mind Medicine (MindMed)

Several institutional investors have recently made changes to their positions in MNMD. Wellington Management Group LLP raised its holdings in shares of Mind Medicine (MindMed) by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 194,491 shares of the company’s stock worth $1,354,000 after purchasing an additional 8,769 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Mind Medicine (MindMed) by 32.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,550 shares of the company’s stock valued at $94,000 after buying an additional 3,350 shares in the last quarter. AWM Investment Company Inc. increased its holdings in Mind Medicine (MindMed) by 39.9% in the fourth quarter. AWM Investment Company Inc. now owns 1,193,162 shares of the company’s stock worth $8,304,000 after buying an additional 340,162 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Mind Medicine (MindMed) by 20.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,044 shares of the company’s stock valued at $592,000 after acquiring an additional 14,691 shares in the last quarter. Finally, Woodline Partners LP raised its position in Mind Medicine (MindMed) by 0.3% during the fourth quarter. Woodline Partners LP now owns 1,005,198 shares of the company’s stock valued at $6,996,000 after acquiring an additional 2,654 shares in the last quarter. 27.91% of the stock is owned by institutional investors.

Mind Medicine (MindMed) Stock Down 2.0 %

Shares of NASDAQ MNMD opened at $6.78 on Wednesday. The company has a quick ratio of 9.00, a current ratio of 9.00 and a debt-to-equity ratio of 0.09. The company has a market cap of $511.00 million, a price-to-earnings ratio of -3.00 and a beta of 2.57. Mind Medicine has a 52 week low of $5.03 and a 52 week high of $12.22. The firm’s fifty day moving average is $7.29 and its 200 day moving average is $6.96.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.08). During the same quarter last year, the firm earned ($0.59) earnings per share. On average, equities research analysts expect that Mind Medicine will post -1.35 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, which is in phase I clinical trials for the treatment of core symptoms of autism spectrum disorder.