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

HC Wainwright restated their buy rating on shares of Mind Medicine (MindMed) (NASDAQ:MNMD - Free Report) in a research report report published on Monday,Benzinga reports. HC Wainwright currently has a $55.00 price target on the stock.

MNMD has been the subject of several other reports. Leerink Partnrs upgraded shares of Mind Medicine (MindMed) to a "strong-buy" rating in a report on Friday, October 11th. Leerink Partners assumed coverage on shares of Mind Medicine (MindMed) in a report on Monday, October 14th. They set an "outperform" rating and a $20.00 target price for the company. Roth Capital upgraded shares of Mind Medicine (MindMed) to a "strong-buy" rating in a report on Wednesday, July 24th. Roth Mkm assumed coverage on shares of Mind Medicine (MindMed) in a report on Wednesday, July 24th. They set a "buy" rating and a $36.00 target price for the company. Finally, Canaccord Genuity Group lowered 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 report on Monday, September 16th. Nine investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Mind Medicine (MindMed) currently has a consensus rating of "Buy" and a consensus price target of $25.38.

Mind Medicine (MindMed) Trading Up 5.7 %

Shares of NASDAQ MNMD traded up $0.48 during trading hours on Monday, hitting $8.97. The company's stock had a trading volume of 2,845,922 shares, compared to its average volume of 1,422,095. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.92 and a current ratio of 5.92. The stock has a market cap of $647.14 million, a price-to-earnings ratio of -4.09 and a beta of 2.48. Mind Medicine has a 12 month low of $2.41 and a 12 month high of $12.22. The business has a 50-day simple moving average of $6.09 and a 200-day simple moving average of $7.22.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last posted its earnings results on Tuesday, August 13th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.18). On average, analysts anticipate that Mind Medicine will post -1.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mind Medicine (MindMed) news, insider Dan Karlin sold 6,871 shares of Mind Medicine (MindMed) stock in a transaction that occurred on 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 sale, the insider now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, 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 completion of the sale, the chief executive officer now owns 545,772 shares of the company's stock, valued at $3,263,716.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dan Karlin sold 6,871 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 $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. In the last quarter, insiders sold 28,994 shares of company stock valued at $173,384. Company insiders own 2.26% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MNMD. SageView Advisory Group LLC purchased a new stake in shares of Mind Medicine (MindMed) during the 1st quarter valued at about $25,000. Bridgewealth Advisory Group LLC purchased a new stake in shares of Mind Medicine (MindMed) during the 2nd quarter valued at about $72,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Mind Medicine (MindMed) during the 3rd quarter valued at about $58,000. Wealth Alliance purchased a new stake in shares of Mind Medicine (MindMed) during the 2nd quarter valued at about $79,000. Finally, Arizona State Retirement System purchased a new stake in shares of Mind Medicine (MindMed) during the 2nd quarter valued at about $114,000. Hedge funds and other institutional investors own 27.91% of the company's stock.

About Mind Medicine (MindMed)

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.