MIRA Pharmaceuticals (NASDAQ:MIRA) Now Covered by Rodman & Renshaw

Investment analysts at Rodman & Renshaw began coverage on shares of MIRA Pharmaceuticals (NASDAQ:MIRA) in a research report issued to clients and investors on Monday, Benzinga reports. The firm set a “buy” rating and a $17.00 price target on the stock.

Separately, Ascendiant Capital Markets started coverage on MIRA Pharmaceuticals in a report on Monday, August 5th. They issued a “buy” rating and a $11.00 target price for the company.

MIRA Pharmaceuticals Trading Up 6.5 %

Shares of NASDAQ MIRA traded up $0.08 during trading hours on Monday, hitting $1.24. 894,088 shares of the company traded hands, compared to its average volume of 2,207,485. The company’s 50 day moving average price is $1.87 and its 200 day moving average price is $1.20. MIRA Pharmaceuticals has a 12 month low of $0.51 and a 12 month high of $6.40. The stock has a market capitalization of $18.25 million and a price-to-earnings ratio of -1.85.

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

Institutional Investors Weigh In On MIRA Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Cross Staff Investments Inc purchased a new stake in shares of MIRA Pharmaceuticals during the 1st quarter worth $422,000. Virtu Financial LLC increased its position in MIRA Pharmaceuticals by 330.2% during the 1st quarter. Virtu Financial LLC now owns 63,055 shares of the company’s stock valued at $69,000 after buying an additional 48,397 shares in the last quarter. Suncoast Equity Management acquired a new position in MIRA Pharmaceuticals during the 1st quarter valued at about $44,000. Finally, Praetorian Wealth Management Inc. acquired a new position in MIRA Pharmaceuticals during the 1st quarter valued at about $30,000. 35.16% of the stock is currently owned by hedge funds and other institutional investors.

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.