Equities Analysts Set Expectations for MNMD FY2029 Earnings

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) – Equities researchers at HC Wainwright raised their FY2029 earnings estimates for Mind Medicine (MindMed) in a report issued on Friday, March 7th. HC Wainwright analyst P. Trucchio now forecasts that the company will earn $2.86 per share for the year, up from their previous estimate of $2.84. HC Wainwright currently has a “Buy” rating and a $55.00 target price on the stock. The consensus estimate for Mind Medicine (MindMed)’s current full-year earnings is ($1.35) per share.

Several other brokerages have also recently issued reports on MNMD. Oppenheimer restated an “outperform” rating and issued a $20.00 price target on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Chardan Capital assumed coverage on Mind Medicine (MindMed) in a report on Friday, December 20th. They issued a “buy” rating and a $20.00 price objective for the company. Evercore ISI initiated coverage on Mind Medicine (MindMed) in a research report on Tuesday, January 28th. They set an “outperform” rating and a $23.00 target price for the company. Finally, Robert W. Baird reduced their price target on Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Ten analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Mind Medicine (MindMed) currently has a consensus rating of “Buy” and an average target price of $25.11.

Mind Medicine (MindMed) Stock Performance

Mind Medicine (MindMed) stock opened at $6.34 on Monday. The business has a 50 day moving average of $7.40 and a 200-day moving average of $6.92. The company has a market capitalization of $464.92 million, a P/E ratio of -2.81 and a beta of 2.57. Mind Medicine has a 1 year low of $5.03 and a 1 year high of $12.22. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00.

Mind Medicine (MindMed) (NASDAQ:MNMD) last issued its earnings results on Thursday, March 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.08). During the same period last year, the business earned ($0.59) earnings per share.

Institutional Trading of Mind Medicine (MindMed)

Large investors have recently made changes to their positions in the company. Diadema Partners LP acquired a new position in Mind Medicine (MindMed) during the 4th quarter worth approximately $33,000. Hollencrest Capital Management raised its position in shares of Mind Medicine (MindMed) by 10,833.3% during the fourth quarter. Hollencrest Capital Management now owns 7,216 shares of the company’s stock worth $50,000 after purchasing an additional 7,150 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Mind Medicine (MindMed) during the third quarter worth approximately $58,000. King Wealth Management Group bought a new position in shares of Mind Medicine (MindMed) in the 4th quarter worth $70,000. Finally, Virtus ETF Advisers LLC acquired a new stake in Mind Medicine (MindMed) in the 4th quarter valued at $70,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Robert Barrow sold 19,106 shares of Mind Medicine (MindMed) stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total value of $141,957.58. Following the completion of the sale, the chief executive officer now owns 526,666 shares in the company, valued at $3,913,128.38. The trade was a 3.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dan Karlin sold 6,643 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total transaction of $49,357.49. Following the transaction, the insider now directly owns 338,013 shares in the company, valued at approximately $2,511,436.59. This represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,022 shares of company stock valued at $208,203 in the last ninety days. 2.26% of the stock is owned by company insiders.

About Mind Medicine (MindMed)

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.