HC Wainwright Equities Analysts Raise Earnings Estimates for Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) – HC Wainwright lifted their Q3 2024 EPS estimates for Mind Medicine (MindMed) in a research note issued to investors on Thursday, August 29th. HC Wainwright analyst P. Trucchio now forecasts that the company will post earnings per share of ($0.27) for the quarter, up from their prior forecast of ($0.31). HC Wainwright currently has a “Buy” rating and a $55.00 price objective on the stock. The consensus estimate for Mind Medicine (MindMed)’s current full-year earnings is ($1.27) per share. HC Wainwright also issued estimates for Mind Medicine (MindMed)’s Q4 2024 earnings at ($0.31) EPS, FY2024 earnings at ($1.18) EPS, Q1 2025 earnings at ($0.31) EPS, Q2 2025 earnings at ($0.32) EPS, Q3 2025 earnings at ($0.32) EPS, Q4 2025 earnings at ($0.32) EPS, FY2025 earnings at ($1.27) EPS, FY2026 earnings at ($0.99) EPS, FY2027 earnings at ($0.82) EPS and FY2028 earnings at $0.28 EPS.

Other research analysts have also issued reports about the company. Roth Mkm started coverage on Mind Medicine (MindMed) in a research report on Wednesday, July 24th. They set a “buy” rating and a $36.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mind Medicine (MindMed) in a research report on Friday, June 21st. Roth Capital raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Wednesday, July 24th. Robert W. Baird began coverage on shares of Mind Medicine (MindMed) in a report on Tuesday, May 28th. They issued an “outperform” rating and a $27.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 target price on shares of Mind Medicine (MindMed) in a research note on Wednesday, June 5th. Nine analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Mind Medicine (MindMed) currently has a consensus rating of “Buy” and an average price target of $27.00.

Mind Medicine (MindMed) Stock Up 0.8 %

Mind Medicine (MindMed) stock opened at $6.06 on Monday. The company has a market capitalization of $435.54 million, a PE ratio of -2.06 and a beta of 2.58. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.92 and a current ratio of 5.92. Mind Medicine has a fifty-two week low of $2.41 and a fifty-two week high of $12.22. The firm has a 50 day moving average price of $7.33 and a 200 day moving average price of $8.01.

Institutional Trading of Mind Medicine (MindMed)

Several institutional investors have recently modified their holdings of the stock. Tri Locum Partners LP lifted its holdings in shares of Mind Medicine (MindMed) by 0.6% in the 2nd quarter. Tri Locum Partners LP now owns 382,055 shares of the company’s stock valued at $2,755,000 after purchasing an additional 2,459 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in Mind Medicine (MindMed) in the first quarter valued at approximately $25,000. Jump Financial LLC boosted its holdings in shares of Mind Medicine (MindMed) by 8.3% in the fourth quarter. Jump Financial LLC now owns 36,826 shares of the company’s stock valued at $135,000 after acquiring an additional 2,826 shares during the period. Cubist Systematic Strategies LLC grew its position in shares of Mind Medicine (MindMed) by 24.1% during the second quarter. Cubist Systematic Strategies LLC now owns 35,508 shares of the company’s stock worth $256,000 after acquiring an additional 6,890 shares during the last quarter. Finally, Bridgewealth Advisory Group LLC acquired a new position in shares of Mind Medicine (MindMed) in the 2nd quarter valued at $72,000. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Insider Buying and Selling

In other news, CEO Robert Barrow sold 15,659 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $7.22, for a total value of $113,057.98. Following the sale, the chief executive officer now directly owns 564,543 shares in the company, valued at approximately $4,076,000.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Dan Karlin sold 6,925 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $7.22, for a total transaction of $49,998.50. Following the sale, the insider now owns 351,527 shares of the company’s stock, valued at approximately $2,538,024.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Barrow sold 15,659 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $7.22, for a total value of $113,057.98. Following the completion of the transaction, the chief executive officer now directly owns 564,543 shares of the company’s stock, valued at $4,076,000.46. The disclosure for this sale can be found here. Insiders own 2.26% 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.