Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD – Get Free Report) have received an average recommendation of “Buy” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $22.00.
A number of research firms recently issued reports on MNMD. SVB Leerink began coverage on Mind Medicine (MindMed) in a research report on Monday, April 15th. They issued an “outperform” rating and a $20.00 target price on the stock. Roth Capital raised Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Wednesday. Leerink Partnrs reaffirmed an “outperform” rating on shares of Mind Medicine (MindMed) in a research report on Monday, April 15th. Roth Mkm assumed coverage on Mind Medicine (MindMed) in a research report on Wednesday. They issued a “buy” rating and a $36.00 target price on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price target on shares of Mind Medicine (MindMed) in a research report on Wednesday, June 5th.
Check Out Our Latest Report on MNMD
Mind Medicine (MindMed) Stock Performance
Mind Medicine (MindMed) (NASDAQ:MNMD – Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.06. Equities analysts expect that Mind Medicine will post -1.36 EPS for the current fiscal year.
Insider Activity
In other news, CEO Robert Barrow sold 15,659 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $7.22, for a total value of $113,057.98. Following the transaction, the chief executive officer now owns 564,543 shares of the company’s stock, valued at $4,076,000.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Dan Karlin sold 6,925 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $7.22, for a total transaction of $49,998.50. Following the sale, the insider now owns 351,527 shares of the company’s stock, valued at $2,538,024.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Barrow sold 15,659 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $7.22, for a total value of $113,057.98. Following the sale, the chief executive officer now directly owns 564,543 shares in the company, valued at approximately $4,076,000.46. The disclosure for this sale can be found here. 2.26% of the stock is owned by company insiders.
Institutional Investors Weigh In On Mind Medicine (MindMed)
A number of large investors have recently added to or reduced their stakes in MNMD. Citigroup Inc. acquired a new stake in Mind Medicine (MindMed) during the third quarter worth approximately $273,000. Bailard Inc. acquired a new stake in Mind Medicine (MindMed) during the fourth quarter worth approximately $63,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in shares of Mind Medicine (MindMed) in the 4th quarter valued at $73,000. Jump Financial LLC boosted its holdings in shares of Mind Medicine (MindMed) by 8.3% in the 4th quarter. Jump Financial LLC now owns 36,826 shares of the company’s stock valued at $135,000 after purchasing an additional 2,826 shares in the last quarter. Finally, Scotia Capital Inc. acquired a new stake in shares of Mind Medicine (MindMed) in the 4th quarter valued at $441,000. 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.
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