Maxim Group Initiates Coverage on MIRA Pharmaceuticals (NASDAQ:MIRA)

Maxim Group started coverage on shares of MIRA Pharmaceuticals (NASDAQ:MIRA) in a report issued on Thursday, Benzinga reports. The brokerage set a “buy” rating and a $3.50 price target on the stock. Maxim Group’s price target would indicate a potential upside of 376.19% from the company’s previous close.

Separately, Weiss Ratings cut MIRA Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 20th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.50.

MIRA Pharmaceuticals Stock Up 2.1%

MIRA Pharmaceuticals stock traded up $0.02 during midday trading on Thursday, hitting $0.73. 39,059 shares of the stock were exchanged, compared to its average volume of 294,552. MIRA Pharmaceuticals has a 52 week low of $0.60 and a 52 week high of $2.45. The company has a fifty day simple moving average of $0.80 and a two-hundred day simple moving average of $0.96. The stock has a market capitalization of $30.88 million, a PE ratio of -0.59 and a beta of 1.52.

MIRA Pharmaceuticals (NASDAQ:MIRA) last posted its earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On MIRA Pharmaceuticals

A hedge fund recently bought a new stake in MIRA Pharmaceuticals stock. BlackRock Inc. bought a new position in shares of MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 244,622 shares of the company’s stock, valued at approximately $232,000. BlackRock Inc. owned approximately 0.58% of MIRA Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 35.16% of the company’s stock.

About MIRA Pharmaceuticals

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.