MIRA Pharmaceuticals (NASDAQ:MIRA) Stock Price Up 1.5% – What’s Next?

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA)’s stock price rose 1.5% on Monday. The stock traded as high as $0.6474 and last traded at $0.6421. Approximately 66,029 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 137,766 shares. The stock had previously closed at $0.6323.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Maxim Group assumed coverage on shares of MIRA Pharmaceuticals in a report on Thursday, September 17th. They issued a “buy” rating and a $3.50 price target for the company. Weiss Ratings downgraded MIRA Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 20th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MIRA Pharmaceuticals currently has an average rating of “Hold” and an average price target of $3.50.

MIRA Pharmaceuticals Price Performance

The firm has a market cap of $28.65 million, a PE ratio of -0.55 and a beta of 1.48. The stock has a 50-day moving average price of $0.77 and a 200 day moving average price of $0.89.

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

Institutional Inflows and Outflows

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 second quarter, according to the company in its most recent filing with the SEC. The fund bought 244,622 shares of the company’s stock, valued at approximately $232,000. BlackRock Inc. owned 0.58% of MIRA Pharmaceuticals as of its most recent filing with the SEC. 35.16% of the stock is owned by institutional investors and hedge funds.

About MIRA Pharmaceuticals

MIRA Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for central nervous system disorders. The company’s pipeline is centered on novel pharmaceutical compounds intended to address conditions involving anxiety, cognitive impairment, depression and pain.

MIRA’s lead programs include MIRA-1a, an investigational synthetic cannabinoid designed for potential use in neurological and psychiatric conditions, and MIRA-3, an oral ketamine analog being developed for potential applications in depression and pain management.