HC Wainwright Has Positive Outlook of MNMD FY2029 Earnings

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) - HC Wainwright upped their FY2029 earnings estimates for Mind Medicine (MindMed) in a research note issued to investors on Friday, March 7th. HC Wainwright analyst P. Trucchio now anticipates that the company will earn $2.86 per share for the year, up from their previous forecast of $2.84. 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.

MNMD has been the topic of several other reports. Oppenheimer reissued an "outperform" rating and set a $20.00 target price on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 17th. Robert W. Baird dropped their price objective on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Evercore ISI assumed coverage on shares of Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They set an "outperform" rating and a $23.00 target price on the stock. Finally, Chardan Capital began coverage on 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. Ten 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, the stock currently has an average rating of "Buy" and an average target price of $25.11.

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Mind Medicine (MindMed) Stock Performance

MNMD traded down $0.13 during trading on Monday, hitting $6.33. The stock had a trading volume of 761,654 shares, compared to its average volume of 1,493,875. 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 50 day moving average price of $7.39 and a 200-day moving average price of $6.92. Mind Medicine has a one year low of $5.03 and a one year high of $12.22. The firm has a market cap of $463.82 million, a price-to-earnings ratio of -2.80 and a beta of 2.57.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.08). During the same quarter in the prior year, the business earned ($0.59) earnings per share.

Institutional Investors Weigh In On Mind Medicine (MindMed)

Several hedge funds and other institutional investors have recently made changes to their positions in MNMD. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Mind Medicine (MindMed) in the 3rd quarter valued at about $58,000. Oppenheimer & Co. Inc. acquired a new position in Mind Medicine (MindMed) in the 3rd quarter worth approximately $298,000. Intech Investment Management LLC purchased a new position in shares of Mind Medicine (MindMed) during the third quarter worth $134,000. Charles Schwab Investment Management Inc. grew its stake in shares of Mind Medicine (MindMed) by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 602,544 shares of the company's stock worth $3,428,000 after purchasing an additional 46,187 shares during the period. Finally, MetLife Investment Management LLC acquired a new position in shares of Mind Medicine (MindMed) in the third quarter worth about $242,000. Hedge funds and other institutional investors own 27.91% of the company's stock.

Insider Buying and Selling at Mind Medicine (MindMed)

In related news, CEO Robert Barrow sold 19,106 shares of the firm'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 value of $141,957.58. Following the sale, the chief executive officer now owns 526,666 shares in the company, valued at approximately $3,913,128.38. This trade represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Dan Karlin sold 6,643 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 value of $49,357.49. Following the completion of the transaction, the insider now directly owns 338,013 shares in the company, valued at approximately $2,511,436.59. This represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,022 shares of company stock valued at $208,203. 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.