Mind Medicine (MindMed) (MNMD) Stock Forecast & Price Target

$6.08

+0.02 (+0.33%)

(As of 09/18/2024 ET)

Mind Medicine (MindMed) - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Buy
Based on 12 Analyst Ratings

Based on 12 Wall Street analysts who have issued ratings for Mind Medicine (MindMed) in the last 12 months, the stock has a consensus rating of "Buy." Out of the 12 analysts, 10 have given a buy rating, and 2 have given a strong buy rating for MNMD.

Consensus Price Target

$25.38
317.35% Upside

High Forecast	$55.00
Average Forecast	$25.38
Low Forecast	$9.00

According to the 12 analysts' twelve-month price targets for Mind Medicine (MindMed), the average price target is $25.38. The highest price target for MNMD is $55.00, while the lowest price target for MNMD is $9.00. The average price target represents a forecasted upside of 317.35% from the current price of $6.08.

Type	Current Forecast 9/19/23 to 9/18/24	1 Month Ago 8/20/23 to 8/19/24	3 Months Ago 6/21/23 to 6/20/24	1 Year Ago 9/19/22 to 9/19/23
Consensus Rating	Buy	Buy	Buy	Buy
Strong Buy	2 Strong Buy rating(s)	2 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	10 Buy rating(s)	9 Buy rating(s)	8 Buy rating(s)	8 Buy rating(s)
Hold	0 Hold rating(s)	0 Hold rating(s)	0 Hold rating(s)	0 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$25.38	$22.00	$20.00	$22.67
Forecasted Upside	317.35% Upside	188.92% Upside	180.67% Upside	554.55% Upside

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MNMD Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

MNMD Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Mind Medicine (MindMed) Stock vs. The Competition

Type	Mind Medicine (MindMed)	Medical Companies	S&P 500
Consensus Rating Score	3.17	2.77	2.50
Consensus Rating	Buy	Moderate Buy	Moderate Buy
Predicted Upside	317.35% Upside	1,010.33% Upside	7.94% Upside
News Sentiment Rating	Neutral News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
9/16/2024	Canaccord Genuity Group 1 of 5 stars		Lower Target	Buy ➝ Buy	$16.00 ➝ $14.00	+122.58%
8/29/2024	HC Wainwright 2 of 5 stars		Boost Target	Buy ➝ Buy	$35.00 ➝ $55.00	+837.76%
7/24/2024	Roth Capital 3 of 5 stars	J. Wittes Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
7/24/2024	Roth Mkm Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy ➝ Buy	$36.00 ➝ $36.00	+307.24%
6/21/2024	Cantor Fitzgerald Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Overweight
6/5/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Outperform	$22.00 ➝ $22.00	+212.94%
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5/29/2024	Baird R W Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Beatty Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
5/28/2024	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Outperform	$27.00	+223.35%
5/13/2024	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Outperform	$29.00 ➝ $20.00	+121.24%
4/15/2024	Leerink Partnrs Subscribe to MarketBeat All Access for the recommendation accuracy rating	R. Li Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Outperform
4/15/2024	Leerink Partners Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Outperform	$20.00	+106.83%
4/14/2023	EF Hutton Acquisition Co. I Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy	$21.00	+510.46%
12/15/2022	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy	$21.00	+701.52%
11/14/2022	Maxim Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		$22.50 ➝ $8.00	+176.82%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 10:49 PM ET.

MNMD Forecast - Frequently Asked Questions

What is Mind Medicine (MindMed)'s forecast for 2024?: According to the research reports of 12 Wall Street equities research analysts, the average twelve-month stock price forecast for Mind Medicine (MindMed) is $25.38, with a high forecast of $55.00 and a low forecast of $9.00.
Should I buy or sell Mind Medicine (MindMed) stock right now?: 12 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Mind Medicine (MindMed) in the last twelve months. There are currently 10 buy ratings and 2 strong buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" MNMD shares.
Does Mind Medicine (MindMed)'s stock price have much upside?: According to analysts, Mind Medicine (MindMed)'s stock has a predicted upside of 245.86% based on their 12-month stock forecasts.
Has Mind Medicine (MindMed) been upgraded by Wall Street analysts recently?: Over the previous 90 days, Mind Medicine (MindMed)'s stock had 1 upgrade by analysts.
What analysts cover Mind Medicine (MindMed)?: Mind Medicine (MindMed) has been rated by research analysts at Canaccord Genuity Group, Cantor Fitzgerald, HC Wainwright, Roth Capital, and Roth Mkm in the past 90 days.
Do Wall Street analysts like Mind Medicine (MindMed) more than its competitors?: Analysts like Mind Medicine (MindMed) more than other "medical" companies. The consensus rating for Mind Medicine (MindMed) is Buy while the average consensus rating for "medical" companies is Moderate Buy. Learn more on how MNMD compares to other companies.