Wall Street Says This Stock Can Deliver a 543% Return. Should You Listen?
Right now, analysts up and down Wall Street are pounding the table on a little-known biotech company called MindMed (NASDAQ: MNMD). Based on the price targets they've set, the average analyst thinks it can rise around 543% from its recent price of around $8 per share.
So is now a good time to buy MindMed stock or should you keep it on your watch list instead?
As you can probably imagine, the lofty price targets on MindMed are based on the potential of the treatments it has in development. In this case, those drugs are ones you're probably already familiar with. MindMed's lead candidate is MM-120, a proprietary formulation of lysergic acid diethylamide, better known as LSD.
Source Fool.com