Brokers Offer Predictions for MNMD FY2025 Earnings

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) – Chardan Capital issued their FY2025 earnings estimates for Mind Medicine (MindMed) in a report issued on Monday, March 24th. Chardan Capital analyst R. Li forecasts that the company will earn ($1.70) per share for the year. Chardan Capital currently has a “Buy” rating and a $20.00 target price on the stock. The consensus estimate for Mind Medicine (MindMed)’s current full-year earnings is ($1.35) per share.

A number of other equities analysts have also issued reports on the stock. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a research report on Friday, March 7th. Evercore ISI assumed coverage on shares of Mind Medicine (MindMed) in a research report on Tuesday, January 28th. They set an “outperform” rating and a $23.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. Finally, Robert W. Baird lowered their price target on Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Ten equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $25.11.

Mind Medicine (MindMed) Stock Performance

NASDAQ MNMD opened at $6.19 on Thursday. The company has a fifty day moving average of $7.26 and a two-hundred day moving average of $6.95. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00. Mind Medicine has a 1 year low of $5.03 and a 1 year high of $12.22. The company has a market capitalization of $466.53 million, a PE ratio of -2.74 and a beta of 2.57.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.08). During the same quarter in the prior year, the firm earned ($0.59) EPS.

Insiders Place Their Bets

In related news, insider Daniel Karlin sold 6,836 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total transaction of $46,074.64. Following the sale, the insider now directly owns 446,177 shares in the company, valued at approximately $3,007,232.98. This trade represents a 1.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert Barrow sold 21,208 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total transaction of $142,941.92. Following the transaction, the chief executive officer now directly owns 856,556 shares in the company, valued at approximately $5,773,187.44. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,391 shares of company stock worth $204,835 over the last three months. 2.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AWM Investment Company Inc. increased its position in Mind Medicine (MindMed) by 39.9% in the 4th quarter. AWM Investment Company Inc. now owns 1,193,162 shares of the company’s stock valued at $8,304,000 after acquiring an additional 340,162 shares during the period. Marshall Wace LLP grew its stake in shares of Mind Medicine (MindMed) by 9.3% in the fourth quarter. Marshall Wace LLP now owns 2,501,391 shares of the company’s stock worth $17,410,000 after purchasing an additional 213,526 shares in the last quarter. Tang Capital Management LLC acquired a new position in shares of Mind Medicine (MindMed) during the fourth quarter valued at $1,392,000. Geode Capital Management LLC raised its stake in shares of Mind Medicine (MindMed) by 10.8% during the third quarter. Geode Capital Management LLC now owns 1,677,702 shares of the company’s stock valued at $9,548,000 after purchasing an additional 162,933 shares in the last quarter. Finally, Allostery Investments LP acquired a new stake in Mind Medicine (MindMed) in the fourth quarter worth about $905,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

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.