Mind Medicine Inc [MNMD] stock prices are down -2.83% to $5.84 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The MNMD shares have gain 0.69% over the last week, with a monthly amount drifted -15.48%, 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 July 24, 2024, when ROTH MKM initiated its Buy rating and assigned the stock a price target of $36. Previously, Robert W. Baird started tracking the stock with Outperform rating on May 29, 2024, and set its price target to $27. On April 15, 2024, Leerink Partners initiated with a Outperform rating and assigned a price target of $20 on the stock. Canaccord Genuity started tracking the stock assigning a Buy rating and suggested a price target of $9 on December 05, 2023. RBC Capital Mkts started tracking with a Outperform rating for this stock on November 16, 2022, and assigned it a price target of $5. In a note dated August 26, 2022, Oppenheimer initiated an Outperform rating and provided a target price of $3.50 on this stock.
The stock price of Mind Medicine Inc [MNMD] has been fluctuating between $2.41 and $12.22 over the past year. Currently, Wall Street analysts expect the stock to reach $21 within the next 12 months. Mind Medicine Inc [NASDAQ: MNMD] shares were valued at $5.84 at the most recent close of the market. An investor can expect a potential return of 259.59% based on the average MNMD price forecast.
Analyzing the MNMD fundamentals
Gross Profit Margin for this corporation currently stands at 0.56% with Operating Profit Margin at -18.7%, Pretax Profit Margin comes in at -21.09%, and Net Profit Margin reading is -21.09%. To continue investigating profitability, this company’s Return on Assets is posted at -0.38, Equity is -0.71 and Total Capital is -0.4. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.12.
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 5.67 points at the first support level, and at 5.51 for the second support level. However, for the 1st resistance point, the stock is sitting at 6.02, and for the 2nd resistance point, it is at 6.21.
Ratios To Look Out For
It’s worth pointing out that Mind Medicine Inc [NASDAQ:MNMD]’s Current Ratio is 5.92. On the other hand, the Quick Ratio is 5.92, and the Cash Ratio is 5.81.
Transactions by insiders
Recent insider trading involved GRYSKA DAVID W, Director, that happened on Aug 23 ’24 when 3500.0 shares were purchased. Chief Executive Officer, Barrow Robert completed a deal on Aug 19 ’24 to buy 500.0 shares. Meanwhile, Chief Executive Officer Barrow Robert bought 500.0 shares on Aug 20 ’24.
