MYnd Analytics Inc (MYND) Receives a Buy from Maxim Group

Maxim Group analyst Anthony Vendetti maintained a Buy rating on MYnd Analytics Inc (MYNDResearch Report) yesterday and set a price target of $4. The company’s shares closed yesterday at $1.49.

Vendetti said:

“Sciences announced that their respective shareholders approved the merger-spinoff (96% and 99.98%, respectively) at a special shareholders’ meeting held on July 9, 2019. Prior to MYND’s merger with MYND’s pre-merger business will be spun out to MYND shareholders. After the dust settles, MYND shareholders, as of close of trading on July 16, 2019, will own a share of Emmaus Life Sciences (ticker EMMA) and a share of a spun-out subsidiary holding MYND’s pre-merger business.”

According to TipRanks.com, Vendetti is a 3-star analyst with an average return of 2.5% and a 48.1% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Restoration Robotics Inc, Xtant Medical Holdings, and Ra Medical Systems Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MYnd Analytics Inc with a $4 average price target.

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Based on MYnd Analytics Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.26 million. In comparison, last year the company had a GAAP net loss of $2.61 million.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MYND in relation to earlier this year.

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MYnd Analytics, Inc. operates as a predictive analytics company that has developed a decision support tool to help physicians reduce trial and error treatment in mental health and provide more personalized care to patients.