MIRA Pharmaceuticals (NASDAQ:MIRA) Upgraded to Strong-Buy by RODMAN&RENSHAW

RODMAN&RENSHAW upgraded shares of MIRA Pharmaceuticals (NASDAQ:MIRA) to a strong-buy rating in a research note published on Monday morning, Zacks.com reports.

MIRA has been the subject of a number of other research reports. Ascendiant Capital Markets started coverage on MIRA Pharmaceuticals in a research report on Monday, August 5th. They set a buy rating and a $11.00 price objective for the company. Rodman & Renshaw initiated coverage on MIRA Pharmaceuticals in a research report on Monday. They set a buy rating and a $17.00 target price on the stock.

MIRA Pharmaceuticals Stock Performance

Shares of NASDAQ MIRA opened at $1.20 on Monday. MIRA Pharmaceuticals has a 1 year low of $0.51 and a 1 year high of $6.40. The firm has a market cap of $17.74 million and a P/E ratio of -1.79. The stock has a fifty day moving average price of $1.77 and a two-hundred day moving average price of $1.20.

MIRA Pharmaceuticals (NASDAQ:MIRA) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). On average, research analysts predict that MIRA Pharmaceuticals will post -0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MIRA Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC increased 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 purchasing an additional 48,397 shares during the period. Praetorian Wealth Management Inc. acquired a new stake in MIRA Pharmaceuticals in the 1st quarter valued at approximately $30,000. Suncoast Equity Management acquired a new stake in MIRA Pharmaceuticals in the 1st quarter valued at approximately $44,000. Finally, Cross Staff Investments Inc bought a new position in MIRA Pharmaceuticals in the 1st quarter worth approximately $422,000. 35.16% of the stock is currently owned by 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.