Mind Medicine price target raised to $36 from $25 at Roth MKM

Roth MKM analyst Jonathan Aschoff raised the firm’s price target on Mind Medicine to $36 from $25 and keeps a Buy rating on the shares. The firm notes MM120 received FDA’s breakthrough designation, proving as efficacious at 12 weeks after one dose as at four weeks across the same primary and key secondary endpoints. Since dosing a strong hallucinogen requires hours of patient supervision, such strong durability of meaningful effect is key to minimize dosing frequency.