MIRA Pharmaceuticals (NASDAQ:MIRA) Stock Rating Upgraded by RODMAN&RENSHAW

MIRA Pharmaceuticals (NASDAQ:MIRA) was upgraded by investment analysts at RODMAN&RENSHAW to a “strong-buy” rating in a research note issued to investors on Monday, Zacks.com reports.

MIRA has been the topic of several other research reports. Ascendiant Capital Markets initiated coverage on MIRA Pharmaceuticals in a research note on Monday, August 5th. They set a “buy” rating and a $11.00 target price on the stock. Rodman & Renshaw started coverage on shares of MIRA Pharmaceuticals in a research report on Monday. They set a “buy” rating and a $17.00 price objective on the stock.

MIRA Pharmaceuticals Stock Performance

NASDAQ MIRA opened at $1.19 on Monday. The firm’s 50 day moving average price is $1.80 and its two-hundred day moving average price is $1.20. MIRA Pharmaceuticals has a twelve month low of $0.51 and a twelve month high of $6.40. The stock has a market cap of $17.59 million and a price-to-earnings ratio of -1.78.

MIRA Pharmaceuticals (NASDAQ:MIRA) last issued its quarterly 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). On average, research analysts forecast that MIRA Pharmaceuticals will post -0.6 EPS for the current fiscal year.

Institutional Trading of MIRA Pharmaceuticals

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