Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Receives $25.20 Average Target Price from Brokerages

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) has been assigned an average recommendation of “Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $25.20.

A number of equities analysts recently weighed in on MNMD shares. SVB Leerink started coverage on shares of Mind Medicine (MindMed) in a report on Monday, April 15th. They set an “outperform” rating and a $20.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $75.00 target price on shares of Mind Medicine (MindMed) in a report on Thursday, March 14th. Royal Bank of Canada boosted their target price on shares of Mind Medicine (MindMed) from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, Leerink Partnrs restated an “outperform” rating on shares of Mind Medicine (MindMed) in a report on Monday, April 15th.

Insider Buying and Selling at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, insider Dan Karlin sold 6,578 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $9.50, for a total value of $62,491.00. Following the transaction, the insider now directly owns 358,452 shares in the company, valued at $3,405,294. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Dan Karlin sold 6,578 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $9.50, for a total value of $62,491.00. Following the completion of the sale, the insider now owns 358,452 shares of the company’s stock, valued at $3,405,294. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert Barrow sold 16,519 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $9.50, for a total transaction of $156,930.50. Following the completion of the sale, the chief executive officer now directly owns 580,202 shares of the company’s stock, valued at approximately $5,511,919. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On Mind Medicine (MindMed)

A number of institutional investors have recently modified their holdings of MNMD. SageView Advisory Group LLC bought a new stake in shares of Mind Medicine (MindMed) in the first quarter valued at about $25,000. Regal Investment Advisors LLC bought a new stake in Mind Medicine (MindMed) during the third quarter worth about $46,000. Commonwealth Equity Services LLC bought a new stake in Mind Medicine (MindMed) during the third quarter worth about $53,000. Bailard Inc. bought a new stake in Mind Medicine (MindMed) during the fourth quarter worth about $63,000. Finally, Mitchell Mcleod Pugh & Williams Inc. bought a new stake in Mind Medicine (MindMed) during the fourth quarter worth about $73,000. Institutional investors own 27.91% of the company’s stock.

Mind Medicine (MindMed) Stock Performance

Shares of MNMD stock opened at $9.12 on Friday. The company’s fifty day simple moving average is $9.25 and its 200-day simple moving average is $5.57. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.18. The firm has a market cap of $640.86 million, a PE ratio of -3.72 and a beta of 2.72. Mind Medicine has a 12 month low of $2.41 and a 12 month high of $12.22.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). Equities research analysts expect that Mind Medicine will post -1.72 EPS for the current fiscal year.

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.