Mind Medicine (MindMed) (NASDAQ:MNMD) Earns Buy Rating from HC Wainwright

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report)'s stock had its "buy" rating restated by equities researchers at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $55.00 price target on the stock. HC Wainwright also issued estimates for Mind Medicine (MindMed)'s FY2029 earnings at $2.84 EPS.

Other equities research analysts also recently issued research reports about the stock. Leerink Partners started coverage on shares of Mind Medicine (MindMed) in a research note on Monday, October 14th. They set an "outperform" rating and a $20.00 target price for the company. Evercore ISI initiated coverage on Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They issued an "outperform" rating and a $23.00 target price on the stock. Chardan Capital initiated coverage on Mind Medicine (MindMed) in a research note on Friday, December 20th. They set a "buy" rating and a $20.00 price target for the company. Oppenheimer reiterated an "outperform" rating and issued a $20.00 price objective on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Finally, Leerink Partnrs upgraded shares of Mind Medicine (MindMed) to a "strong-buy" rating in a research report on Friday, October 11th. Ten investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $26.33.

Mind Medicine (MindMed) Stock Up 11.1 %

Shares of Mind Medicine (MindMed) stock traded up $0.82 during trading hours on Friday, hitting $8.19. The company had a trading volume of 3,085,502 shares, compared to its average volume of 1,524,868. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00. The company's 50-day moving average is $7.26 and its two-hundred day moving average is $6.90. The company has a market cap of $600.35 million, a P/E ratio of -3.62 and a beta of 2.59. Mind Medicine has a twelve month low of $3.85 and a twelve month high of $12.22.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.02. During the same period in the previous year, the business posted ($0.53) EPS. Analysts anticipate that Mind Medicine will post -1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, insider Dan Karlin sold 6,643 shares of the company's stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total value of $49,357.49. Following the completion of the sale, the insider now directly owns 338,013 shares in the company, valued at $2,511,436.59. This represents a 1.93 % 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, CEO Robert Barrow sold 19,106 shares of Mind Medicine (MindMed) stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total value of $141,957.58. Following the transaction, the chief executive officer now owns 526,666 shares in the company, valued at approximately $3,913,128.38. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,022 shares of company stock worth $208,203 over the last ninety days. Company insiders own 2.26% of the company's stock.

Hedge Funds Weigh In On Mind Medicine (MindMed)

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC increased its holdings in shares of Mind Medicine (MindMed) by 24.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 35,508 shares of the company's stock valued at $256,000 after purchasing an additional 6,890 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Mind Medicine (MindMed) in the second quarter worth $197,000. SG Americas Securities LLC acquired a new stake in shares of Mind Medicine (MindMed) during the 3rd quarter valued at about $93,000. Wealth Enhancement Advisory Services LLC acquired a new position in Mind Medicine (MindMed) during the third quarter worth $58,000. Finally, Stoneridge Investment Partners LLC bought a new stake in Mind Medicine (MindMed) during the third quarter worth approximately $93,000. 27.91% of the stock is currently owned by hedge funds and other 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.