At the time of writing, Mind Medicine Inc [MNMD] stock is trading at $7.82, up 4.83%. An important factor to consider is whether the stock is rising or falling in short-term value. The MNMD shares have gain 14.49% over the last week, with a monthly amount drifted -0.38%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Mind Medicine Inc [NASDAQ: MNMD] stock has seen the most recent analyst activity on May 29, 2024, when Robert W. Baird initiated its Outperform rating and assigned the stock a price target of $27. Previously, Leerink Partners started tracking the stock with Outperform rating on April 15, 2024, and set its price target to $20. On December 05, 2023, Canaccord Genuity initiated with a Buy rating and assigned a price target of $9 on the stock. RBC Capital Mkts initiated its recommendation with a Outperform and recommended $5 as its price target on November 16, 2022. Oppenheimer started tracking with a Outperform rating for this stock on August 26, 2022, and assigned it a price target of $3.50. In a note dated August 10, 2022, Cantor Fitzgerald initiated an Overweight rating and provided a target price of $3 on this stock.
For the past year, the stock price of Mind Medicine Inc fluctuated between $2.41 and $12.22. Currently, Wall Street analysts expect the stock to reach $21 within the next 12 months. Mind Medicine Inc [NASDAQ: MNMD] shares were valued at $7.82 at the most recent close of the market. An investor can expect a potential return of 168.54% based on the average MNMD price forecast.
Analyzing the MNMD fundamentals
Gross Profit Margin for this corporation currently stands at 0.39% with Operating Profit Margin at -19.68%, Pretax Profit Margin comes in at -25.9%, and Net Profit Margin reading is -25.9%. To continue investigating profitability, this company’s Return on Assets is posted at -0.45, Equity is -1.05 and Total Capital is -0.45. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.07.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 7.60 points at the first support level, and at 7.39 for the second support level. However, for the 1st resistance point, the stock is sitting at 7.97, and for the 2nd resistance point, it is at 8.12.
Ratios To Look Out For
It is important to note that Mind Medicine Inc [NASDAQ:MNMD] has a current ratio of 3.91. On the other hand, the Quick Ratio is 3.91, and the Cash Ratio is 3.87.
Transactions by insiders
Recent insider trading involved Sullivan Mark, Chief Legal Officer, that happened on Jun 25 ’24 when 17854.0 shares were sold. Chief Executive Officer, Barrow Robert completed a deal on Jun 25 ’24 to sell 15659.0 shares. Meanwhile, Chief Medical Officer Karlin Dan sold 6925.0 shares on Jun 25 ’24.
