Brokerages Set Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) PT at $25.20

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) has been given a consensus recommendation of “Buy” by the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $25.20.

Several equities analysts have issued reports on MNMD shares. SVB Leerink began coverage on Mind Medicine (MindMed) in a research note on Monday, April 15th. They issued an “outperform” rating and a $20.00 price target on the stock. Royal Bank of Canada increased their target price on shares of Mind Medicine (MindMed) from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. HC Wainwright reiterated a “buy” rating and set a $75.00 price objective on shares of Mind Medicine (MindMed) in a report on Thursday, March 14th. Finally, Leerink Partnrs restated an “outperform” rating on shares of Mind Medicine (MindMed) in a research note on Monday, April 15th.

Mind Medicine (MindMed) Stock Performance

NASDAQ MNMD opened at $9.55 on Friday. The company has a market capitalization of $671.08 million, a price-to-earnings ratio of -3.85 and a beta of 2.72. Mind Medicine has a twelve month low of $2.41 and a twelve month high of $12.22. The stock has a fifty day simple moving average of $9.01 and a 200 day simple moving average of $5.47. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.18.

Mind Medicine (MindMed) (NASDAQ:MNMD) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.11). Sell-side analysts expect that Mind Medicine will post -1.72 EPS for the current year.

Insider Transactions at Mind Medicine (MindMed)

In related news, CEO Robert Barrow sold 16,519 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $9.50, for a total transaction of $156,930.50. Following the completion of the transaction, the chief executive officer now owns 580,202 shares of the company’s stock, valued at $5,511,919. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Mind Medicine (MindMed) news, insider Dan Karlin sold 6,578 shares of Mind Medicine (MindMed) stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $9.50, for a total transaction of $62,491.00. Following the completion of the sale, the insider now directly owns 358,452 shares in the company, valued at $3,405,294. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert Barrow sold 16,519 shares of Mind Medicine (MindMed) stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $9.50, for a total transaction of $156,930.50. Following the sale, the chief executive officer now owns 580,202 shares of the company’s stock, valued at $5,511,919. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On Mind Medicine (MindMed)

Hedge funds have recently bought and sold shares of the stock. Jump Financial LLC raised its holdings in Mind Medicine (MindMed) by 8.3% during the 4th quarter. Jump Financial LLC now owns 36,826 shares of the company’s stock valued at $135,000 after buying an additional 2,826 shares during the last quarter. Regal Investment Advisors LLC purchased a new position in Mind Medicine (MindMed) during the 3rd quarter valued at $46,000. Commonwealth Equity Services LLC purchased a new position in Mind Medicine (MindMed) during the 3rd quarter valued at $53,000. Bailard Inc. purchased a new position in Mind Medicine (MindMed) during the 4th quarter valued at $63,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Mind Medicine (MindMed) during the 1st quarter valued at $168,000. 27.91% of the stock is currently owned by institutional investors.

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.