Analysts Issue Forecasts for MNMD FY2029 Earnings

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) – Research analysts at HC Wainwright issued their FY2029 earnings estimates for shares of Mind Medicine (MindMed) in a research note issued to investors on Friday, January 31st. HC Wainwright analyst P. Trucchio forecasts that the company will earn $2.84 per share for the year. HC Wainwright has a “Buy” rating and a $55.00 price target on the stock. The consensus estimate for Mind Medicine (MindMed)’s current full-year earnings is ($1.35) per share.

MNMD has been the subject of several other research reports. Oppenheimer reissued an “outperform” rating and issued a $20.00 price target on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Leerink Partnrs raised Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Friday, October 11th. Evercore ISI initiated coverage on Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 target price for the company. Chardan Capital started coverage on shares of Mind Medicine (MindMed) in a research note on Friday, December 20th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Leerink Partners initiated coverage on Mind Medicine (MindMed) in a report on Monday, October 14th. They set an “outperform” rating and a $20.00 target price for the company. Ten equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $26.33.

Mind Medicine (MindMed) Trading Down 4.8 %

Shares of Mind Medicine (MindMed) stock opened at $6.79 on Monday. The firm has a market capitalization of $497.91 million, a price-to-earnings ratio of -3.00 and a beta of 2.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00. Mind Medicine has a fifty-two week low of $3.82 and a fifty-two week high of $12.22. The stock has a 50 day moving average of $7.26 and a 200 day moving average of $6.91.

Mind Medicine (MindMed) (NASDAQ:MNMD) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.02. During the same period in the previous year, the business earned ($0.53) EPS.

Insiders Place Their Bets

In related news, CEO Robert Barrow sold 19,106 shares of Mind Medicine (MindMed) stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total transaction of $141,957.58. Following the completion of the sale, the chief executive officer now directly owns 526,666 shares of the company’s stock, valued at $3,913,128.38. The trade was a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dan Karlin sold 6,643 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total value of $49,357.49. Following the sale, the insider now directly owns 338,013 shares in the company, valued at $2,511,436.59. The trade was a 1.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,022 shares of company stock valued at $208,203 over the last quarter. Insiders own 2.26% of the company’s stock.

Hedge Funds Weigh In On Mind Medicine (MindMed)

A number of large investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Mind Medicine (MindMed) by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,677,702 shares of the company’s stock worth $9,548,000 after buying an additional 162,933 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Mind Medicine (MindMed) by 142.6% in the third quarter. Wellington Management Group LLP now owns 185,722 shares of the company’s stock valued at $1,057,000 after acquiring an additional 109,152 shares during the last quarter. Barclays PLC grew its position in shares of Mind Medicine (MindMed) by 203.6% during the 3rd quarter. Barclays PLC now owns 136,098 shares of the company’s stock worth $775,000 after buying an additional 91,271 shares during the period. XTX Topco Ltd acquired a new position in shares of Mind Medicine (MindMed) during the third quarter worth approximately $337,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Mind Medicine (MindMed) during the third quarter worth $298,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

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.