Mind Medicine (MindMed) (NASDAQ:MNMD) Research Coverage Started at Leerink Partners

Leerink Partners started coverage on shares of Mind Medicine (MindMed) (NASDAQ:MNMD) in a research note published on Monday, StockNewsAPI reports. The brokerage issued an outperform rating and a $20.00 price objective on the stock.

MNMD has been the subject of a number of other research reports. Roth Mkm initiated coverage on shares of Mind Medicine (MindMed) in a research report on Wednesday, July 24th. They set a “buy” rating and a $36.00 target price for the company. Canaccord Genuity Group cut their target price on shares of Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, September 16th. HC Wainwright upped their price objective on shares of Mind Medicine (MindMed) from $35.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Roth Capital raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mind Medicine (MindMed) in a research report on Friday, June 21st. Nine research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $25.38.

Mind Medicine (MindMed) Stock Up 9.7 %

MNMD stock opened at $6.49 on Monday. The firm has a market cap of $466.45 million, a PE ratio of -2.21 and a beta of 2.52. The company has a current ratio of 5.92, a quick ratio of 5.92 and a debt-to-equity ratio of 0.12. Mind Medicine has a 1 year low of $2.41 and a 1 year high of $12.22. The company has a fifty day simple moving average of $6.04 and a 200 day simple moving average of $7.63.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its earnings results on Tuesday, August 13th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.18). Sell-side analysts anticipate that Mind Medicine will post -1.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Dan Karlin sold 6,871 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $5.98, for a total value of $41,088.58. Following the completion of the transaction, the insider now owns 344,656 shares of the company’s stock, valued at $2,061,042.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Robert Barrow sold 19,771 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $5.98, for a total value of $118,230.58. Following the completion of the transaction, the chief executive officer now owns 545,772 shares of the company’s stock, valued at $3,263,716.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dan Karlin sold 6,871 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total transaction of $41,088.58. Following the sale, the insider now directly owns 344,656 shares of the company’s stock, valued at approximately $2,061,042.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,994 shares of company stock valued at $173,384 over the last quarter. Corporate insiders own 2.26% of the company’s stock.

Institutional Trading of Mind Medicine (MindMed)

Hedge funds have recently modified their holdings of the company. SageView Advisory Group LLC acquired a new stake in shares of Mind Medicine (MindMed) during the first quarter worth approximately $25,000. Bridgewealth Advisory Group LLC acquired a new stake in shares of Mind Medicine (MindMed) during the second quarter worth approximately $72,000. Wealth Alliance acquired a new stake in shares of Mind Medicine (MindMed) during the second quarter worth approximately $79,000. SG Americas Securities LLC acquired a new stake in shares of Mind Medicine (MindMed) during the third quarter worth approximately $93,000. Finally, Arizona State Retirement System acquired a new stake in shares of Mind Medicine (MindMed) during the second quarter worth approximately $114,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

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.