HC Wainwright & Co. Maintains Buy on Mind Medicine, Lowers Price Target to $35
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Patrick Trucchio maintains a Buy rating on Mind Medicine (MNMD) but lowers the price target from $75 to $35.
May 10, 2024 | 7:39 pm
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HC Wainwright & Co. maintains a Buy rating on Mind Medicine but reduces the price target significantly from $75 to $35.
The reduction in price target by such a significant margin indicates a reassessment of the company's future growth prospects or valuation, which could lead to short-term negative sentiment among investors. However, maintaining a Buy rating suggests underlying confidence in the company's fundamentals. The mixed signals could result in short-term volatility.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100