Leerink Partnrs Equities Analysts Raise Earnings Estimates for Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) – Stock analysts at Leerink Partnrs upped their Q3 2024 earnings per share estimates for shares of Mind Medicine (MindMed) in a report issued on Tuesday, August 13th. Leerink Partnrs analyst R. Li now expects that the company will earn ($0.27) per share for the quarter, up from their previous forecast of ($0.28). The consensus estimate for Mind Medicine (MindMed)’s current full-year earnings is ($1.35) per share. Leerink Partnrs also issued estimates for Mind Medicine (MindMed)’s Q4 2024 earnings at ($0.41) EPS, FY2025 earnings at ($1.50) EPS, FY2026 earnings at ($1.55) EPS, FY2027 earnings at ($2.00) EPS and FY2028 earnings at ($0.90) EPS.

Several other brokerages have also recently commented on MNMD. Baird R W upgraded shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Wednesday, May 29th. Roth Capital upgraded shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Wednesday, July 24th. Roth Mkm started coverage on Mind Medicine (MindMed) in a research report on Wednesday, July 24th. They set a “buy” rating and a $36.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 price objective on shares of Mind Medicine (MindMed) in a research note on Wednesday, June 5th. Finally, HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Mind Medicine (MindMed) in a research note on Wednesday, July 31st. Nine equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $22.00.

Mind Medicine (MindMed) Stock Performance

Shares of MNMD opened at $6.36 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.91 and a current ratio of 3.91. The stock has a 50-day moving average of $7.65 and a two-hundred day moving average of $7.84. The stock has a market cap of $457.11 million, a P/E ratio of -2.16 and a beta of 2.58. Mind Medicine has a one year low of $2.41 and a one year high of $12.22.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. SageView Advisory Group LLC purchased a new stake in shares of Mind Medicine (MindMed) in the first quarter valued at about $25,000. Bailard Inc. acquired a new stake in shares of Mind Medicine (MindMed) during the 4th quarter worth approximately $63,000. Bridgewealth Advisory Group LLC acquired a new stake in shares of Mind Medicine (MindMed) during the 2nd quarter worth approximately $72,000. Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in shares of Mind Medicine (MindMed) during the 4th quarter valued at approximately $73,000. Finally, Wealth Alliance acquired a new position in Mind Medicine (MindMed) in the second quarter valued at approximately $79,000. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Insider Buying and Selling

In other Mind Medicine (MindMed) news, insider Dan Karlin sold 6,925 shares of Mind Medicine (MindMed) stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $7.22, for a total transaction of $49,998.50. Following the sale, the insider now owns 351,527 shares of the company’s stock, valued at approximately $2,538,024.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Robert Barrow sold 15,659 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $7.22, for a total value of $113,057.98. Following the completion of the sale, the chief executive officer now directly owns 564,543 shares in the company, valued at $4,076,000.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dan Karlin sold 6,925 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $7.22, for a total value of $49,998.50. Following the completion of the sale, the insider now directly owns 351,527 shares of the company’s stock, valued at approximately $2,538,024.94. The disclosure for this sale can be found here. 2.26% of the stock is owned by company insiders.

Mind Medicine (MindMed) Company Profile

Mind Medicine (MindMed) Inc, a clinical stage biopharmaceutical company, develops novel products to treat brain health disorders. The company's lead product candidates include MM-120, which is in phase 2 for the treatment of generalized anxiety disorder and attention deficit hyperactivity disorder; and MM-402, a R-enantiomer of 3,4-methylenedioxymethamphetamine, which is in phase I clinical trials for the treatment of core symptoms of autism spectrum disorder.