MIRA Pharmaceuticals (NASDAQ:MIRA) Coverage Initiated by Analysts at Rodman & Renshaw

Rodman & Renshaw initiated coverage on shares of MIRA Pharmaceuticals (NASDAQ:MIRA) in a research note released on Monday morning, Benzinga reports. The brokerage issued a buy rating and a $17.00 target price on the stock.

Separately, Ascendiant Capital Markets started coverage on shares of MIRA Pharmaceuticals in a report on Monday, August 5th. They set a buy rating and a $11.00 price target for the company.

MIRA Pharmaceuticals Trading Down 2.5 %

MIRA stock opened at $1.17 on Monday. MIRA Pharmaceuticals has a 1-year low of $0.51 and a 1-year high of $6.40. The business’s 50 day moving average is $1.75 and its 200-day moving average is $1.20. The firm has a market cap of $17.29 million and a P/E ratio of -1.75.

MIRA Pharmaceuticals (NASDAQ:MIRA) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Sell-side analysts forecast that MIRA Pharmaceuticals will post -0.6 EPS for the current year.

Hedge Funds Weigh In On MIRA Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Praetorian Wealth Management Inc. acquired a new stake in shares of MIRA Pharmaceuticals in the first quarter valued at $30,000. Suncoast Equity Management acquired a new stake in MIRA Pharmaceuticals in the 1st quarter valued at about $44,000. Virtu Financial LLC raised its stake in shares of MIRA Pharmaceuticals by 330.2% in the first quarter. Virtu Financial LLC now owns 63,055 shares of the company’s stock worth $69,000 after acquiring an additional 48,397 shares during the last quarter. Finally, Cross Staff Investments Inc bought a new position in shares of MIRA Pharmaceuticals in the first quarter worth about $422,000. Institutional investors own 35.16% of the company’s stock.

MIRA Pharmaceuticals Company Profile

MIRA Pharmaceuticals, Inc operates as a pre-clinical-stage pharmaceutical development company with two neuroscience programs targeting a range of neurologic and neuropsychiatric disorders. The company holds exclusive U.S., Canadian, and Mexican rights for Ketamir-2, a patent pending oral ketamine analog under investigation to deliver ultra-rapid antidepressant effects for individuals battling treatment-resistant depression, major depressive disorder with suicidal ideation, and post-traumatic stress disorder.