Equities Analysts Issue Forecasts for MNMD FY2025 Earnings

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) - Research analysts at Cantor Fitzgerald issued their FY2025 earnings estimates for Mind Medicine (MindMed) in a report released on Monday, May 12th. Cantor Fitzgerald analyst C. Duncan anticipates that the company will post earnings of ($1.39) per share for the year. Cantor Fitzgerald has a "Strong-Buy" rating on the stock. The consensus estimate for Mind Medicine (MindMed)'s current full-year earnings is ($1.35) per share.

A number of other research analysts also recently commented on MNMD. HC Wainwright reissued a "buy" rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a research report on Friday, March 7th. Evercore ISI started coverage on shares of Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They set an "outperform" rating and a $23.00 price objective for the company. Chardan Capital reissued a "buy" rating and issued a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Friday, May 9th. Finally, Robert W. Baird decreased their price target on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Nine research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $25.11.

Mind Medicine (MindMed) Price Performance

MNMD stock traded down $0.18 during trading on Wednesday, hitting $6.43. 1,481,775 shares of the company's stock traded hands, compared to its average volume of 1,373,870. The business has a fifty day simple moving average of $6.12 and a 200 day simple moving average of $6.96. The stock has a market capitalization of $484.24 million, a price-to-earnings ratio of -2.83 and a beta of 2.52. 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 52 week low of $4.70 and a 52 week high of $10.44.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.35) earnings per share for the quarter, beating analysts' consensus estimates of ($0.36) by $0.01.

Institutional Investors Weigh In On Mind Medicine (MindMed)

A number of hedge funds have recently made changes to their positions in MNMD. AWM Investment Company Inc. boosted its holdings in shares of Mind Medicine (MindMed) by 39.9% in the fourth quarter. AWM Investment Company Inc. now owns 1,193,162 shares of the company's stock valued at $8,304,000 after acquiring an additional 340,162 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Mind Medicine (MindMed) in the first quarter valued at $1,556,000. Marshall Wace LLP grew its holdings in Mind Medicine (MindMed) by 9.3% during the fourth quarter. Marshall Wace LLP now owns 2,501,391 shares of the company's stock worth $17,410,000 after acquiring an additional 213,526 shares during the period. Tang Capital Management LLC bought a new stake in Mind Medicine (MindMed) in the fourth quarter worth about $1,392,000. Finally, Allostery Investments LP bought a new position in shares of Mind Medicine (MindMed) during the 4th quarter valued at about $905,000. Institutional investors own 27.91% of the company's stock.

Insider Activity at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 21,208 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total value of $142,941.92. Following the completion of the transaction, the chief executive officer now owns 856,556 shares in the company, valued at $5,773,187.44. This represents a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Karlin sold 6,836 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $6.74, for a total transaction of $46,074.64. Following the completion of the sale, the insider now directly owns 446,177 shares in the company, valued at $3,007,232.98. This represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,391 shares of company stock valued at $204,835. Insiders own 2.45% 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.