Leerink Partnrs Issues Negative Forecast for MNMD Earnings

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) - Research analysts at Leerink Partnrs dropped their Q4 2024 earnings per share (EPS) estimates for shares of Mind Medicine (MindMed) in a research note issued to investors on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now expects that the company will post earnings of ($0.32) per share for the quarter, down from their prior forecast of ($0.31). Leerink Partnrs 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. Leerink Partnrs also issued estimates for Mind Medicine (MindMed)'s Q2 2025 earnings at ($0.37) EPS, Q3 2025 earnings at ($0.44) EPS, Q4 2025 earnings at ($0.44) EPS, FY2025 earnings at ($1.60) EPS, FY2026 earnings at ($1.60) EPS, FY2027 earnings at ($1.40) EPS and FY2028 earnings at ($1.20) EPS.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.29) by $0.02. During the same period in the prior year, the firm earned ($0.53) earnings per share.

Several other brokerages have also recently weighed in on MNMD. Chardan Capital assumed coverage on shares of Mind Medicine (MindMed) in a research report on Friday, December 20th. They issued a "buy" rating and a $20.00 price target on the stock. Oppenheimer reiterated an "outperform" rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. Evercore ISI assumed coverage on Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They set an "outperform" rating and a $23.00 price objective on the stock. Leerink Partners initiated coverage on shares of Mind Medicine (MindMed) in a research note on Monday, October 14th. They issued an "outperform" rating and a $20.00 target price for the company. Finally, HC Wainwright reissued a "buy" rating and set a $55.00 price target on shares of Mind Medicine (MindMed) in a research report on Friday. Ten research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $26.33.

Mind Medicine (MindMed) Stock Up 10.2 %

Shares of Mind Medicine (MindMed) stock traded up $0.76 during trading hours on Friday, reaching $8.13. The company's stock had a trading volume of 2,879,528 shares, compared to its average volume of 1,519,768. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00. The stock's fifty day simple moving average is $7.26 and its two-hundred day simple moving average is $6.90. The company has a market capitalization of $595.81 million, a P/E ratio of -3.63 and a beta of 2.59. Mind Medicine has a one year low of $3.85 and a one year high of $12.22.

Institutional Investors Weigh In On Mind Medicine (MindMed)

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Mind Medicine (MindMed) by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 200,121 shares of the company's stock valued at $1,393,000 after buying an additional 10,338 shares during the period. Rhumbline Advisers boosted its position in shares of Mind Medicine (MindMed) by 5.1% during the 4th quarter. Rhumbline Advisers now owns 100,695 shares of the company's stock valued at $701,000 after acquiring an additional 4,868 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of Mind Medicine (MindMed) during the 4th quarter valued at about $108,000. Foundations Investment Advisors LLC purchased a new position in shares of Mind Medicine (MindMed) during the fourth quarter worth about $91,000. Finally, SG Americas Securities LLC increased its position in shares of Mind Medicine (MindMed) by 48.8% in the fourth quarter. SG Americas Securities LLC now owns 24,406 shares of the company's stock worth $170,000 after purchasing an additional 8,004 shares during the last quarter. 27.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Dan Karlin sold 6,643 shares of Mind Medicine (MindMed) 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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Barrow sold 19,106 shares of the company's stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $141,957.58. Following the sale, the chief executive officer now owns 526,666 shares in the company, valued at $3,913,128.38. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,022 shares of company stock valued at $208,203 in the last three months. Company insiders own 2.26% 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.