Equity research analysts at EF Hutton Acquisition Co. assumed coverage of Mind Medicine (MindMed) (NASDAQ: MNMD) shares in a research note released Friday and made available to the public. Benzinga was the source of the information we collected. The organization recommended a “buy” on the stock and set its target price at $21.00 per share.
Additional equity research studies have been written by equity research analysts, and these reports have been made available to the public. The UBS Group published the first report on Thursday that it would be published at “medicine of the mind” (MindMeld). They recommend that the company “buy” the stock and set a target price of $21.00. In a research report released Sept. 21, HC Wainwright recommended “buying” shares of Mind Medicine (MindMeld) and set an increased price target of $75.00 for the company’s stock. The report has been distributed to the general public for consultation. Royal Bank of Canada began including mental medicine coverage (MindMeld) in a report on Wednesday, November 16. She recommended investors to “outperform” the stock. Oppenheimer raised its target price for Mind Medicine (MindMeld) from $3.50 to $52.00, in a research report published Tuesday, August 30. Roth Capital reaffirmed a “buy” rating on Mind Medicine shares in a research note published on Friday, December 9. The firm also set a target price of $25.00 for the company’s stock at press time (MindMeld). In their assessments, eight industry experts all recommended “buying” the stock. According to Bloomberg, the company currently receives an average “buy” rating and its stock price has an average target price of $33.13 for investors to consider buying.
On Friday, the price of MNMD was at 2.72 at the start of trading. Mind Medicine’s all-time low in the past year was 2.35, and Mind Medicine’s all-time high in the past year was 26.25. The stock currently has a price/earnings ratio of 1.15 and a beta value of 1.71. Its market capitalization is currently valued at $102,19,000,000. The stock’s moving average over the last 50 days is 2.78; over the last 200 days, it is 7.35.
On November 10, the latest quarterly earnings report from Mind Medicine (MindMed) (NASDAQ: MNMD) was released. The company’s quarterly earnings per share came in at -0.56, 0.02 better than the average forecast of -0.58. Mind Medicine is expected to suffer a loss of -2.34 cents per share in the current fiscal year, as indicated by projections provided by industry experts.
Lately, there has been significant activity in the market from various institutional investors who have been buying and selling shares of companies. LMR Partners LLP made a financial investment in Mind Medicine for $36,000 during the third quarter of the fiscal year. (In effect). Mind Medicine received a $29,000 contribution from Virtu Financial LLC in the first three months of the year. (In effect). A donation of $28,000 was made to Mind Medicine by Quantum Private Wealth LLC during the second quarter of the fiscal year. (In effect). During the second quarter, Exchange Traded Concepts LLC achieved a 339.7% increase in the proportion of Mind Medicine (MindMed) shares it held. Exchange Traded Concepts LLC now owns a total of 59,592 shares of the company, each worth $38,000, thanks to the purchase of 46,039 additional shares during the last quarter. Finally, Fore Capital LLC started a new interest in mental medicine in the first three months of 2018, and that interest was valued at around $110,000. (In effect). Currently, hedge funds and other institutional investors control 5.10% of the company’s shares.
The biopharmaceutical company Mind Medicine (MindMeld), Inc. is currently in the clinical trial phase of developing its product. The company is trying to develop first-of-its-kind pharmaceuticals to treat neurological, psychiatric and addiction disorders in the brain. The company is working on a drug called MM-120, which is currently in phase 2 of the development process. This medication treats chronic pain, attention deficit hyperactivity disorder, and generalized anxiety disorder. Additionally, an opioid withdrawal treatment called MM-120, an a3ß4 nicotinic cholinergic receptor antagonist, has completed Phase 1 of the clinical trial process. Additionally, the opioid withdrawal treatment known as MM-110 has successfully completed Phase 1 for the treatment of opioid withdrawal.
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