Mind Medicine (MindMed)'s (MNMD) "Buy" Rating Reiterated at HC Wainwright

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report)'s stock had its "buy" rating restated by HC Wainwright in a note issued to investors on Friday,Benzinga reports. They currently have a $55.00 target price on the stock. HC Wainwright also issued estimates for Mind Medicine (MindMed)'s FY2029 earnings at $2.86 EPS.

A number of other brokerages have also recently commented on MNMD. Evercore ISI began coverage on shares of Mind Medicine (MindMed) in a report on Tuesday, January 28th. They set an "outperform" rating and a $23.00 target price on the stock. Chardan Capital assumed coverage on shares of Mind Medicine (MindMed) in a research note on Friday, December 20th. They set a "buy" rating and a $20.00 price objective on the stock. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $20.00 target price on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 17th. Ten analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Mind Medicine (MindMed) presently has an average rating of "Buy" and a consensus target price of $25.11.

Mind Medicine (MindMed) Trading Up 0.6 %

Shares of MNMD traded up $0.04 during trading hours on Friday, reaching $6.34. 1,296,580 shares of the company traded hands, compared to its average volume of 1,513,599. The company has a quick ratio of 9.00, a current ratio of 9.00 and a debt-to-equity ratio of 0.09. Mind Medicine has a 12 month low of $5.03 and a 12 month high of $12.22. The company's fifty day moving average price is $7.41 and its two-hundred day moving average price is $6.92. The company has a market capitalization of $464.92 million, a price-to-earnings ratio of -2.81 and a beta of 2.57.

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Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.08). During the same period in the previous year, the company earned ($0.59) earnings per share. Equities research analysts predict that Mind Medicine will post -1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Robert Barrow sold 19,106 shares of the business's stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $141,957.58. Following the completion of the transaction, the chief executive officer now directly owns 526,666 shares of the company's stock, valued at $3,913,128.38. The trade was a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dan Karlin sold 6,643 shares of the firm'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 transaction of $49,357.49. Following the completion of the sale, the insider now owns 338,013 shares in the company, valued at $2,511,436.59. This represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,022 shares of company stock worth $208,203. 2.26% of the stock is owned by corporate insiders.

Institutional Trading of Mind Medicine (MindMed)

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNMD. Wealth Enhancement Advisory Services LLC bought a new stake in Mind Medicine (MindMed) during the third quarter valued at about $58,000. Oppenheimer & Co. Inc. purchased a new position in Mind Medicine (MindMed) during the third quarter valued at approximately $298,000. Intech Investment Management LLC bought a new position in shares of Mind Medicine (MindMed) in the third quarter worth approximately $134,000. Charles Schwab Investment Management Inc. increased its stake in shares of Mind Medicine (MindMed) by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 602,544 shares of the company's stock worth $3,428,000 after purchasing an additional 46,187 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new position in shares of Mind Medicine (MindMed) during the 3rd quarter valued at $242,000. 27.91% of the stock is 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.