Mind Medicine (MindMed) (MNMD) Expected to Announce Earnings on Wednesday

Mind Medicine (MindMed) (NASDAQ:MNMD) is expected to release its earnings data before the market opens on Wednesday, February 26th. Analysts expect Mind Medicine (MindMed) to post earnings of ($0.31) per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Mind Medicine (MindMed) Stock Performance

NASDAQ MNMD opened at $7.63 on Monday. 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 has a market capitalization of $559.51 million, a price-to-earnings ratio of -3.38 and a beta of 2.59. The firm’s 50 day simple moving average is $7.54 and its 200 day simple moving average is $6.92. Mind Medicine has a 1 year low of $4.54 and a 1 year high of $12.22.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MNMD. HC Wainwright restated a “buy” rating and issued a $55.00 target price on shares of Mind Medicine (MindMed) in a research report on Friday, January 31st. Evercore ISI initiated coverage on shares of Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price objective on the stock. Oppenheimer reissued an “outperform” rating and issued a $20.00 price objective on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 17th. Finally, Chardan Capital initiated coverage on shares of Mind Medicine (MindMed) in a research note on Friday, December 20th. They issued a “buy” rating and a $20.00 price objective on the stock. Ten research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $26.33.

Insiders Place Their Bets

In related news, insider Dan Karlin sold 6,643 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $49,357.49. Following the transaction, the insider now owns 338,013 shares of the company’s stock, valued at approximately $2,511,436.59. This trade represents a 1.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Barrow sold 19,106 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total transaction of $141,957.58. Following the completion of the sale, the chief executive officer now directly owns 526,666 shares in the company, valued at approximately $3,913,128.38. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,022 shares of company stock worth $208,203 in the last three months. 2.26% of the stock is currently owned by corporate insiders.

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.