In a report released yesterday, Michael Okunewitch from Maxim Group maintained a Buy rating on Mind Medicine (MNMD – Research Report), with a price target of $18.00.
Michael Okunewitch has given his Buy rating due to a combination of factors surrounding Mind Medicine’s strategic initiatives and financial health. The company has a robust cash position of $273.7 million, which is projected to support operations into 2027, extending well beyond the anticipated results of their Phase 3 trials for generalized anxiety disorder (GAD) in the first half of 2026. This financial stability provides a solid foundation for the company’s ongoing and future clinical programs.
Additionally, Mind Medicine is actively enrolling patients in pivotal Phase 3 studies for GAD, with plans to expand into major depressive disorder (MDD) trials in 2025. The innovative design of these studies, which includes adaptive elements and potential for redosing, demonstrates a strategic approach to maximize efficacy and durability of their treatments. Furthermore, the company’s exploration into treating autism spectrum disorder (ASD) with their R-MDMA program highlights their commitment to addressing a range of brain health disorders, potentially broadening their market impact. These strategic developments and financial assurances underpin Okunewitch’s positive outlook on the stock.
In another report released today, Robert W. Baird also maintained a Buy rating on the stock with a $16.00 price target.
MNMD’s price has also changed moderately for the past six months – from $5.945 to $6.610, which is a 11.19% increase.
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