Equities Analysts Offer Predictions for MNMD FY2025 Earnings

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) - Analysts at Cantor Fitzgerald lowered their FY2025 earnings per share estimates for Mind Medicine (MindMed) in a note issued to investors on Wednesday, May 21st. Cantor Fitzgerald analyst C. Duncan now forecasts that the company will post earnings per share of ($1.53) for the year, down from their previous forecast of ($1.39). Cantor Fitzgerald currently 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 announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.36) by $0.01.

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

Mind Medicine (MindMed) Price Performance

Shares of MNMD stock traded up $0.06 during midday trading on Friday, reaching $7.20. 495,666 shares of the company traded hands, compared to its average volume of 1,391,534. The firm's 50 day simple moving average is $6.22 and its two-hundred day simple moving average is $6.97. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00. The firm has a market cap of $542.65 million, a PE ratio of -3.19 and a beta of 2.52. Mind Medicine has a 1-year low of $4.70 and a 1-year high of $10.44.

Institutional Trading of Mind Medicine (MindMed)

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Diadema Partners LP bought a new stake in shares of Mind Medicine (MindMed) in the 4th quarter worth approximately $33,000. Hollencrest Capital Management grew its holdings 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 valued at $50,000 after buying an additional 7,150 shares in the last quarter. Black Swift Group LLC acquired a new position in Mind Medicine (MindMed) during the first quarter valued at $63,000. CreativeOne Wealth LLC purchased a new stake in Mind Medicine (MindMed) in the 1st quarter worth about $67,000. Finally, King Wealth Management Group acquired a new stake in Mind Medicine (MindMed) during the 4th quarter worth about $70,000. 27.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 21,208 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $6.74, for a total value of $142,941.92. Following the sale, the chief executive officer now owns 856,556 shares in the company, valued at approximately $5,773,187.44. This trade represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Karlin sold 6,836 shares of Mind Medicine (MindMed) stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $6.74, for a total value of $46,074.64. Following the sale, the insider now directly owns 446,177 shares in the company, valued at $3,007,232.98. The trade was a 1.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,391 shares of company stock worth $204,835 over the last 90 days. 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.