What is HC Wainwright's Forecast for MNMD FY2029 Earnings?

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) - Investment analysts at HC Wainwright issued their FY2029 earnings per share estimates for Mind Medicine (MindMed) in a research report issued on Friday, January 31st. HC Wainwright analyst P. Trucchio expects that the company will post earnings per share of $2.84 for the year. HC Wainwright currently has a "Buy" rating and a $55.00 target price 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 released its earnings results on Thursday, November 7th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.02. During the same quarter last year, the firm posted ($0.53) EPS.

Other equities research analysts also recently issued reports about the company. Leerink Partnrs upgraded Mind Medicine (MindMed) to a "strong-buy" rating in a research report on Friday, October 11th. Evercore ISI started coverage on Mind Medicine (MindMed) in a report on Tuesday, January 28th. They issued an "outperform" rating and a $23.00 price objective for the company. Oppenheimer reaffirmed an "outperform" rating and set a $20.00 target price on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. Leerink Partners began coverage on shares of Mind Medicine (MindMed) in a report on Monday, October 14th. They issued an "outperform" rating and a $20.00 price target for the company. 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 equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $26.33.

Mind Medicine (MindMed) Price Performance

Shares of Mind Medicine (MindMed) stock traded down $0.37 on Monday, hitting $8.97. The company had a trading volume of 3,268,745 shares, compared to its average volume of 2,024,327. Mind Medicine has a 52 week low of $3.86 and a 52 week high of $12.22. 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 company has a market cap of $657.77 million, a PE ratio of -3.97 and a beta of 2.59. The business has a 50-day simple moving average of $7.29 and a 200-day simple moving average of $6.94.

Institutional Trading of Mind Medicine (MindMed)

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in Mind Medicine (MindMed) in the 4th quarter valued at approximately $111,000. Oppenheimer & Co. Inc. grew its holdings in shares of Mind Medicine (MindMed) by 25.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 65,541 shares of the company's stock valued at $456,000 after acquiring an additional 13,160 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Mind Medicine (MindMed) by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 200,121 shares of the company's stock worth $1,393,000 after acquiring an additional 10,338 shares during the last quarter. Rhumbline Advisers boosted its position in Mind Medicine (MindMed) by 5.1% during the fourth quarter. Rhumbline Advisers now owns 100,695 shares of the company's stock valued at $701,000 after purchasing an additional 4,868 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. purchased a new position in Mind Medicine (MindMed) in the fourth quarter valued at about $108,000. 27.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

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.