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

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) - HC Wainwright issued their FY2029 EPS estimates for Mind Medicine (MindMed) in a 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 has a "Buy" rating and a $55.00 price target 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 announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.02. During the same period last year, the firm earned ($0.53) earnings per share.

A number of other equities research analysts also recently issued reports on MNMD. Chardan Capital assumed coverage on shares of Mind Medicine (MindMed) in a research note on Friday, December 20th. They set a "buy" rating and a $20.00 price objective on the stock. Oppenheimer reiterated an "outperform" rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Leerink Partners initiated coverage on Mind Medicine (MindMed) in a research note on Monday, October 14th. They set an "outperform" rating and a $20.00 target price for the company. Evercore ISI assumed coverage on Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They issued an "outperform" rating and a $23.00 price target on the stock. Finally, Leerink Partnrs upgraded Mind Medicine (MindMed) to a "strong-buy" rating in a research report on Friday, October 11th. Ten investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Mind Medicine (MindMed) presently has an average rating of "Buy" and an average price target of $26.33.

Mind Medicine (MindMed) Price Performance

Shares of NASDAQ MNMD traded down $0.71 during mid-day trading on Monday, reaching $8.26. The company had a trading volume of 2,207,934 shares, compared to its average volume of 2,032,181. The firm has a market cap of $605.71 million, a price-to-earnings ratio of -3.65 and a beta of 2.59. The business's 50-day simple moving average is $7.30 and its 200 day simple moving average is $6.93. Mind Medicine has a one year low of $4.18 and a one year high of $12.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MNMD. Wealthfront Advisers LLC acquired a new stake in Mind Medicine (MindMed) during the fourth quarter worth approximately $717,000. SLT Holdings LLC bought a new position in shares of Mind Medicine (MindMed) during the 4th quarter worth approximately $91,000. Raymond James Financial Inc. acquired a new stake in shares of Mind Medicine (MindMed) during the 4th quarter worth approximately $111,000. Oppenheimer & Co. Inc. increased its stake in shares of Mind Medicine (MindMed) by 25.1% in 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. Finally, Bank of New York Mellon Corp increased its stake in 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 valued at $1,393,000 after purchasing an additional 10,338 shares in the last quarter. 27.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 19,106 shares of the 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 completion of the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dan Karlin sold 6,643 shares of the business's stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total transaction of $49,357.49. Following the completion of the transaction, the insider now owns 338,013 shares in the company, valued at $2,511,436.59. This trade represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,022 shares of company stock worth $208,203. 2.26% of the stock is currently owned by company 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.