Mind Medicine initiated with a Buy at EF Hutton

EF Hutton analyst Elemer Piros initiated coverage of Mind Medicine with a Buy rating and $21 price target. MindMed "reinvigorated clinical development of LSD," the "oldest psychedelic substance known to the Western world," said Piros. MindMed has initiated the first industry-sponsored randomized, controlled efficacy trial with LSD for any indication and the company has cash to support itself for more than two years, the analyst added.