HC Wainwright Reaffirms Buy Rating for Mind Medicine (MindMed) (NASDAQ:MNMD)

HC Wainwright reissued their buy rating on shares of Mind Medicine (MindMed) (NASDAQ:MNMD – Get Rating) in a research report released on Thursday, Benzinga reports. HC Wainwright currently has a $75.00 price target on the stock. HC Wainwright also issued estimates for Mind Medicine (MindMed)’s FY2027 earnings at $0.14 EPS.

A number of other analysts have also issued reports on MNMD. Roth Capital reaffirmed a buy rating and set a $25.00 target price on shares of Mind Medicine (MindMed) in a research report on Friday, December 9th. EF Hutton Acquisition Co. I reissued a buy rating and issued a $21.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, March 10th. UBS Group assumed coverage on Mind Medicine (MindMed) in a report on Thursday, December 15th. They issued a buy rating and a $21.00 price objective for the company. Canaccord Genuity Group decreased their target price on Mind Medicine (MindMed) from $22.00 to $18.00 in a research note on Monday, November 21st. Finally, Royal Bank of Canada restated an outperform rating and issued a $5.00 target price on shares of Mind Medicine (MindMed) in a research note on Friday, March 10th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $30.00.

Mind Medicine (MindMed) Price Performance

NASDAQ:MNMD opened at $2.90 on Thursday. The business’s 50-day moving average is $3.47 and its two-hundred day moving average is $3.79. Mind Medicine has a 12 month low of $2.12 and a 12 month high of $19.95. The firm has a market capitalization of $108.95 million, a PE ratio of -1.63 and a beta of 2.07.

Mind Medicine (MindMed) (NASDAQ:MNMD – Get Rating) last released its quarterly earnings data on Thursday, March 9th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.22. Equities analysts anticipate that Mind Medicine will post -1.71 EPS for the current year.

Insider Buying and Selling at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 8,273 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $3.51, for a total value of $29,038.23. Following the transaction, the chief executive officer now owns 238,959 shares of the company’s stock, valued at $838,746.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 16,922 shares of company stock valued at $55,237. Corporate insiders own 2.11% of the company’s stock.

Institutional Trading of Mind Medicine (MindMed)

Several large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC raised its stake in Mind Medicine (MindMed) by 95.4% during the 4th quarter. Virtu Financial LLC now owns 70,157 shares of the company’s stock valued at $154,000 after purchasing an additional 34,247 shares during the period. Millennium Management LLC grew its holdings in shares of Mind Medicine (MindMed) by 61.0% during the 4th quarter. Millennium Management LLC now owns 249,450 shares of the company’s stock valued at $549,000 after acquiring an additional 94,551 shares in the last quarter. Morgan Stanley grew its holdings in shares of Mind Medicine (MindMed) by 100.8% during the 4th quarter. Morgan Stanley now owns 52,955 shares of the company’s stock valued at $116,000 after acquiring an additional 26,583 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of Mind Medicine (MindMed) during the 4th quarter valued at $75,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Mind Medicine (MindMed) during the 4th quarter valued at $399,000. 20.44% of the stock is owned by institutional investors and hedge funds.

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 related to psychiatry, addiction, pain, and neurology. The company develops MM-120, which is in phase 2 for the treatment of generalized anxiety disorder and attention deficit hyperactivity disorder, as well as for the treatment of chronic pain; and MM-110, an a3ß4 nicotinic cholinergic receptor antagonist that has completed phase 1 for the treatment of opioid withdrawal.