Mind Medicine price target raised to $16 from $9 at Canaccord

Canaccord analyst Sumant Kulkarni raised the firm’s price target on Mind Medicine to $16 from $9 and keeps a Buy rating on the shares. The firm notes that outcome of FDA interactions and more information around Phase 3 trial design should keep investors interested as those updates could drive further upside from current levels and based primarily on the solidity of the company’s Phase 2b data, they raised their price target.