MIRA Pharmaceuticals (NASDAQ:MIRA) Earns Buy Rating from Analysts at Ascendiant Capital Markets

Ascendiant Capital Markets assumed coverage on shares of MIRA Pharmaceuticals (NASDAQ:MIRA) in a research note published on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $11.00 price objective on the stock.

MIRA Pharmaceuticals Price Performance

Shares of MIRA stock opened at $2.13 on Monday. The firm has a 50-day moving average of $1.19 and a 200-day moving average of $1.06. MIRA Pharmaceuticals has a one year low of $0.51 and a one year high of $7.30. The company has a market cap of $31.48 million and a P/E ratio of -3.18.

MIRA Pharmaceuticals (NASDAQ:MIRA) last posted its earnings results on Monday, May 13th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). As a group, research analysts expect that MIRA Pharmaceuticals will post -0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MIRA Pharmaceuticals

Several large investors have recently made changes to their positions in MIRA. Praetorian Wealth Management Inc. bought a new position in MIRA Pharmaceuticals during the first quarter valued at about $30,000. Suncoast Equity Management bought a new position in shares of MIRA Pharmaceuticals during the 1st quarter valued at approximately $44,000. Virtu Financial LLC increased its stake in shares of MIRA Pharmaceuticals by 330.2% during the 1st quarter. Virtu Financial LLC now owns 63,055 shares of the company’s stock worth $69,000 after purchasing an additional 48,397 shares during the last quarter. Finally, Cross Staff Investments Inc bought a new stake in shares of MIRA Pharmaceuticals in the 1st quarter worth approximately $422,000. 35.16% of the stock is owned by hedge funds and other institutional investors.

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.