Cantor Fitzgerald Has Negative View of MNMD FY2025 Earnings

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) - Research analysts at Cantor Fitzgerald dropped their FY2025 earnings per share estimates for shares of Mind Medicine (MindMed) in a research report issued on Wednesday, May 21st. Cantor Fitzgerald analyst C. Duncan now anticipates that the company will post earnings per share of ($1.53) for the year, down from their prior estimate of ($1.39). 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.

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

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

Mind Medicine (MindMed) Stock Performance

MNMD opened at $7.07 on Friday. Mind Medicine has a twelve month low of $4.70 and a twelve month high of $10.44. The firm has a market capitalization of $532.85 million, a PE ratio of -3.13 and a beta of 2.52. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09. The firm's 50-day moving average price is $6.18 and its 200 day moving average price is $6.98.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. AWM Investment Company Inc. increased its position in shares of Mind Medicine (MindMed) by 1.3% during the first quarter. AWM Investment Company Inc. now owns 1,208,162 shares of the company's stock valued at $7,068,000 after acquiring an additional 15,000 shares during the last quarter. Ally Bridge Group NY LLC boosted its position in shares of Mind Medicine (MindMed) by 18.1% during the 1st quarter. Ally Bridge Group NY LLC now owns 390,143 shares of the company's stock worth $2,282,000 after purchasing an additional 59,868 shares during the period. Royal Bank of Canada boosted its position in shares of Mind Medicine (MindMed) by 10.4% during the 1st quarter. Royal Bank of Canada now owns 65,237 shares of the company's stock worth $382,000 after purchasing an additional 6,148 shares during the period. DRW Securities LLC acquired a new stake in Mind Medicine (MindMed) in the 1st quarter valued at approximately $292,000. Finally, CreativeOne Wealth LLC acquired a new stake in Mind Medicine (MindMed) in the 1st quarter valued at approximately $67,000. Institutional investors and hedge funds own 27.91% of the company's stock.

Insider Buying and Selling

In other news, insider Daniel Karlin sold 6,836 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total transaction of $46,074.64. Following the completion of the transaction, the insider now directly owns 446,177 shares in the company, valued at approximately $3,007,232.98. This represents a 1.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Barrow sold 21,208 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total value of $142,941.92. Following the sale, the chief executive officer now directly owns 856,556 shares of the company's stock, valued at $5,773,187.44. The trade was a 2.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,391 shares of company stock worth $204,835. Company insiders own 2.45% of the company's stock.

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.

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