Chardan initiated coverage of Mind Medicine (MNMD) with a Buy rating and $20 price target The firm cites the potential of the company’s lead asset MM120 for the treatment of generalized anxiety disorder and major depressive disorder for its Buy rating. Its thesis assumes MM120 will report positive data in 2026 and deliver a solid commercial launch with over $1B in peak sales. Chardan expects the sentiment on the shares to continue to improve moving into 2025 with multiple key catalyst events.
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