At the time of writing, Mind Medicine Inc [MNMD] stock is trading at $7.52, up 11.41%. An important factor to consider is whether the stock is rising or falling in short-term value. The MNMD shares have gain 19.37% over the last week, with a monthly amount glided 43.24%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Previously, ROTH MKM started tracking the stock with Buy rating on July 24, 2024, and set its price target to $36. On May 29, 2024, Robert W. Baird initiated with a Outperform rating and assigned a price target of $27 on the stock. Leerink Partners started tracking the stock assigning a Outperform rating and suggested a price target of $20 on April 15, 2024. Canaccord Genuity initiated its recommendation with a Buy and recommended $9 as its price target on December 05, 2023. In a note dated November 16, 2022, RBC Capital Mkts initiated an Outperform rating and provided a target price of $5 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 $18.67 within the next 12 months. Mind Medicine Inc [NASDAQ: MNMD] shares were valued at $7.52 at the most recent close of the market. An investor can expect a potential return of 148.27% 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 6.95 points at the first support level, and at 6.39 for the second support level. However, for the 1st resistance point, the stock is sitting at 8.06, and for the 2nd resistance point, it is at 8.61.
Ratios To Look Out For
It is important to note that Mind Medicine Inc [NASDAQ:MNMD] has a current ratio of 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 Sullivan, Mark, Officer, that happened on Sep 25 ’24 when 4430.0 shares were purchased. Chief Accounting Officer, Liao Carrie completed a deal on Sep 25 ’24 to sell 2352.0 shares. Meanwhile, Chief Executive Officer Barrow Robert sold 19771.0 shares on Sep 25 ’24.
