What is HC Wainwright's Estimate for MNMD FY2028 Earnings?

Key Points

• HC Wainwright has revised its FY2028 EPS estimate for Mind Medicine (MindMed) to $0.37, a significant increase from the previous estimate of $0.30, while the current consensus estimate stands at a loss of ($1.35) per share.
• Mind Medicine's stock received upgrades from Cantor Fitzgerald and Chardan Capital, with seven analysts rating it a "buy" and two a "strong buy," leading to an average price target of $24.71.
• Insider transactions revealed significant stock sales by CEO Robert Barrow and insider Daniel Karlin, indicating a decrease in insider ownership amidst positive updates about the company's earnings outlook.

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) - Equities researchers at HC Wainwright lifted their FY2028 earnings per share (EPS) estimates for shares of Mind Medicine (MindMed) in a report released on Monday, August 4th. HC Wainwright analyst P. Trucchio now anticipates that the company will post earnings per share of $0.37 for the year, up from their previous estimate of $0.30. The consensus estimate for Mind Medicine (MindMed)'s current full-year earnings is ($1.35) per share. HC Wainwright also issued estimates for Mind Medicine (MindMed)'s FY2029 earnings at $2.94 EPS.

Other equities analysts have also issued research reports about the stock. Chardan Capital reissued a "buy" rating and issued a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Friday, August 1st. Oppenheimer assumed coverage on Mind Medicine (MindMed) in a report on Monday. They set an "outperform" rating and a $25.00 price objective on the stock. Finally, Cantor Fitzgerald raised Mind Medicine (MindMed) to a "strong-buy" rating in a research note on Tuesday, May 13th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Mind Medicine (MindMed) has a consensus rating of "Buy" and an average price target of $24.71.

Mind Medicine (MindMed) Price Performance

Shares of MNMD stock traded up $0.10 on Tuesday, reaching $9.99. The company's stock had a trading volume of 959,982 shares, compared to its average volume of 1,290,042. The company has a market capitalization of $754.77 million, a P/E ratio of -6.53 and a beta of 2.49. The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 0.22. The stock's 50 day simple moving average is $8.02 and its 200-day simple moving average is $7.19. Mind Medicine has a 12-month low of $4.70 and a 12-month high of $10.44.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.12).

Insider Buying and Selling

In other news, CEO Robert Barrow sold 26,491 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $6.80, for a total transaction of $180,138.80. Following the completion of the sale, the chief executive officer directly owned 830,065 shares in the company, valued at approximately $5,644,442. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Sullivan sold 11,491 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $6.80, for a total value of $78,138.80. Following the completion of the sale, the insider directly owned 305,130 shares in the company, valued at $2,074,884. The trade was a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,830 shares of company stock valued at $311,644 over the last three months. 2.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mind Medicine (MindMed)

Several institutional investors and hedge funds have recently bought and sold shares of MNMD. CWM LLC lifted its stake in Mind Medicine (MindMed) by 67.4% in the second quarter. CWM LLC now owns 4,459 shares of the company's stock worth $29,000 after acquiring an additional 1,796 shares during the period. Diadema Partners LP purchased a new stake in shares of Mind Medicine (MindMed) in the 4th quarter worth about $33,000. Black Swift Group LLC bought a new stake in shares of Mind Medicine (MindMed) during the 1st quarter valued at about $63,000. CreativeOne Wealth LLC purchased a new position in shares of Mind Medicine (MindMed) during the first quarter valued at about $67,000. Finally, Virtus ETF Advisers LLC bought a new position in Mind Medicine (MindMed) in the fourth quarter worth about $70,000. Hedge funds and other institutional investors 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.