MIRA Pharmaceuticals (NASDAQ:MIRA) Raised to Strong-Buy at RODMAN&RENSHAW

MIRA Pharmaceuticals (NASDAQ:MIRA) was upgraded by stock analysts at RODMAN&RENSHAW to a “strong-buy” rating in a note issued to investors on Monday, Zacks.com reports.

A number of other brokerages have also recently issued reports on MIRA. Ascendiant Capital Markets began coverage on shares of MIRA Pharmaceuticals in a report on Monday, August 5th. They set a “buy” rating and a $11.00 price objective for the company. Rodman & Renshaw began coverage on MIRA Pharmaceuticals in a research report on Monday. They set a “buy” rating and a $17.00 target price for the company.

MIRA Pharmaceuticals Trading Down 8.5 %

Shares of MIRA opened at $1.19 on Monday. MIRA Pharmaceuticals has a 12 month low of $0.51 and a 12 month high of $6.40. The firm’s fifty day simple moving average is $1.80 and its two-hundred day simple moving average is $1.20. The stock has a market capitalization of $17.59 million and a P/E ratio of -1.78.

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

Institutional Trading of MIRA Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Virtu Financial LLC raised its stake in MIRA Pharmaceuticals by 330.2% in the first quarter. Virtu Financial LLC now owns 63,055 shares of the company’s stock valued at $69,000 after purchasing an additional 48,397 shares in the last quarter. Praetorian Wealth Management Inc. bought a new stake in shares of MIRA Pharmaceuticals during the 1st quarter worth $30,000. Suncoast Equity Management purchased a new position in MIRA Pharmaceuticals in the first quarter worth $44,000. Finally, Cross Staff Investments Inc bought a new position in MIRA Pharmaceuticals in the first quarter valued at $422,000. Institutional investors own 35.16% of the company’s stock.

About MIRA Pharmaceuticals

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.