Mind Medicine (MindMed) (NASDAQ:MNMD) Now Covered by Analysts at Evercore ISI

Analysts at Evercore ISI began coverage on shares of Mind Medicine (MindMed) (NASDAQ:MNMD) in a note issued to investors on Tuesday, Marketbeat.com reports. The firm set an “outperform” rating and a $23.00 price target on the stock. Evercore ISI’s price target points to a potential upside of 214.21% from the stock’s current price.

MNMD has been the topic of a number of other research reports. HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of Mind Medicine (MindMed) in a research report on Monday, November 11th. Leerink Partners initiated 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. Chardan Capital initiated coverage on shares of Mind Medicine (MindMed) in a report on Friday, December 20th. They set a “buy” rating and a $20.00 target price for the company. Leerink Partnrs raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a report on Friday, October 11th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $20.00 target price on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. Ten analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $26.33.

Mind Medicine (MindMed) Stock Down 1.5 %

Shares of Mind Medicine (MindMed) stock opened at $7.32 on Tuesday. The company has a market cap of $536.78 million, a price-to-earnings ratio of -3.24 and a beta of 2.60. The company’s 50 day moving average is $7.27 and its 200 day moving average is $6.94. Mind Medicine has a twelve month low of $3.80 and a twelve month high of $12.22. The company has a quick ratio of 9.00, a current ratio of 9.00 and a debt-to-equity ratio of 0.09.

Mind Medicine (MindMed) (NASDAQ:MNMD) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. During the same quarter in the prior year, the company posted ($0.53) EPS. Research analysts anticipate that Mind Medicine will post -1.35 EPS for the current year.

Insider Transactions at Mind Medicine (MindMed)

In related news, insider Dan Karlin sold 6,643 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $49,357.49. Following the completion of the transaction, the insider now directly owns 338,013 shares of the company’s stock, valued at approximately $2,511,436.59. This trade represents a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert Barrow sold 19,106 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $141,957.58. Following the transaction, the chief executive officer now directly owns 526,666 shares of the company’s stock, valued at $3,913,128.38. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,022 shares of company stock valued at $208,203 over the last three months. Corporate insiders own 2.26% of the company’s stock.

Hedge Funds Weigh In On Mind Medicine (MindMed)

Institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its position in Mind Medicine (MindMed) by 203.6% during the third quarter. Barclays PLC now owns 136,098 shares of the company’s stock valued at $775,000 after purchasing an additional 91,271 shares during the last quarter. Wellington Management Group LLP lifted its position in Mind Medicine (MindMed) by 142.6% during the third quarter. Wellington Management Group LLP now owns 185,722 shares of the company’s stock valued at $1,057,000 after purchasing an additional 109,152 shares during the last quarter. Geode Capital Management LLC lifted its position in Mind Medicine (MindMed) by 10.8% during the third quarter. Geode Capital Management LLC now owns 1,677,702 shares of the company’s stock valued at $9,548,000 after purchasing an additional 162,933 shares during the last quarter. State Street Corp lifted its position in Mind Medicine (MindMed) by 0.5% during the third quarter. State Street Corp now owns 1,814,829 shares of the company’s stock valued at $10,326,000 after purchasing an additional 9,782 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Mind Medicine (MindMed) by 21.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,430 shares of the company’s stock valued at $87,000 after purchasing an additional 2,230 shares during the last quarter. 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.