Oppenheimer reiterated their outperform rating on shares of Mind Medicine (MindMed) (NASDAQ:MNMD - Free Report) in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a $20.00 price objective on the stock.
Several other research firms have also recently commented on MNMD. HC Wainwright reiterated a "buy" rating and issued a $55.00 price target on shares of Mind Medicine (MindMed) in a research note on Monday, November 11th. Leerink Partners assumed coverage on Mind Medicine (MindMed) in a research report on Monday, October 14th. They issued an "outperform" rating and a $20.00 target price on the stock. Leerink Partnrs upgraded Mind Medicine (MindMed) to a "strong-buy" rating in a research note on Friday, October 11th. Finally, Canaccord Genuity Group dropped their price target on shares of Mind Medicine (MindMed) from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $27.71.
Check Out Our Latest Analysis on Mind Medicine (MindMed)
Mind Medicine (MindMed) Stock Up 1.1 %
Mind Medicine (MindMed) stock traded up $0.08 during midday trading on Tuesday, hitting $7.48. 779,119 shares of the stock were exchanged, compared to its average volume of 1,427,587. 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 has a 50 day moving average price of $6.99 and a two-hundred day moving average price of $7.01. The firm has a market cap of $548.52 million, a P/E ratio of -3.30 and a beta of 2.58. Mind Medicine has a 1 year low of $3.27 and a 1 year high of $12.22.
Insider Buying and Selling at Mind Medicine (MindMed)
In other Mind Medicine (MindMed) news, insider Dan Karlin sold 6,871 shares of the firm's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total value of $41,088.58. Following the sale, the insider now directly owns 344,656 shares in the company, valued at approximately $2,061,042.88. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert Barrow sold 19,771 shares of the business's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $5.98, for a total transaction of $118,230.58. Following the transaction, the chief executive officer now directly owns 545,772 shares of the company's stock, valued at approximately $3,263,716.56. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,994 shares of company stock worth $173,384 over the last ninety days. Company insiders own 2.26% of the company's stock.
Institutional Investors Weigh In On Mind Medicine (MindMed)
Several large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in Mind Medicine (MindMed) in the 3rd quarter worth approximately $58,000. Bridgewealth Advisory Group LLC bought a new stake in Mind Medicine (MindMed) during the 2nd quarter valued at $72,000. Wealth Alliance acquired a new position in Mind Medicine (MindMed) during the 2nd quarter worth $79,000. Sanctuary Advisors LLC bought a new position in shares of Mind Medicine (MindMed) in the third quarter worth $91,000. Finally, SG Americas Securities LLC acquired a new position in shares of Mind Medicine (MindMed) during the third quarter valued at $93,000. Institutional investors and hedge funds own 27.91% of the company's stock.
Mind Medicine (MindMed) Company Profile
(
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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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