HC Wainwright Comments on Mind Medicine (MindMed) Inc.’s FY2027 Earnings (NASDAQ:MNMD)

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD – Get Rating) – Investment analysts at HC Wainwright decreased their FY2027 earnings per share estimates for shares of Mind Medicine (MindMed) in a report issued on Thursday, March 16th. HC Wainwright analyst P. Trucchio now forecasts that the company will post earnings per share of $0.14 for the year, down from their previous estimate of $0.18. HC Wainwright has a “Buy” rating and a $75.00 price objective on the stock. The consensus estimate for Mind Medicine (MindMed)’s current full-year earnings is ($1.71) per share.

Mind Medicine (MindMed) (NASDAQ:MNMD – Get Rating) last issued its quarterly earnings data on Thursday, March 9th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.22.

Several other brokerages have also issued reports on MNMD. Canaccord Genuity Group decreased their target price on Mind Medicine (MindMed) from $22.00 to $18.00 in a research report on Monday, November 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $5.00 target price on shares of Mind Medicine (MindMed) in a research report on Friday, March 10th. Roth Capital reaffirmed a “buy” rating and set a $25.00 target price on shares of Mind Medicine (MindMed) in a research report on Friday, December 9th. UBS Group initiated coverage on Mind Medicine (MindMed) in a report on Thursday, December 15th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, EF Hutton Acquisition Co. I reissued a “buy” rating and issued a $21.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, March 10th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Mind Medicine (MindMed) presently has a consensus rating of “Buy” and a consensus target price of $30.00.

Mind Medicine (MindMed) Price Performance

Shares of Mind Medicine (MindMed) stock opened at $2.90 on Friday. Mind Medicine has a 1 year low of $2.12 and a 1 year high of $19.95. The firm has a market cap of $108.95 million, a PE ratio of -1.63 and a beta of 2.07. The stock has a fifty day moving average price of $3.47 and a 200-day moving average price of $3.84.

Insider Buying and Selling at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 8,273 shares of Mind Medicine (MindMed) stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $3.51, for a total transaction of $29,038.23. Following the completion of the transaction, the chief executive officer now owns 238,959 shares of the company’s stock, valued at approximately $838,746.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 16,922 shares of company stock valued at $55,237 in the last quarter. 2.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Mind Medicine (MindMed) by 7.3% during the 1st quarter. State Street Corp now owns 6,145,503 shares of the company’s stock valued at $6,822,000 after buying an additional 416,765 shares in the last quarter. Millennium Management LLC boosted its position in shares of Mind Medicine (MindMed) by 1,063.1% during the 2nd quarter. Millennium Management LLC now owns 5,075,110 shares of the company’s stock valued at $3,249,000 after acquiring an additional 4,638,774 shares during the last quarter. Merit Financial Group LLC boosted its position in shares of Mind Medicine (MindMed) by 103.0% during the 3rd quarter. Merit Financial Group LLC now owns 1,080,574 shares of the company’s stock valued at $3,782,000 after acquiring an additional 548,187 shares during the last quarter. Swiss National Bank boosted its position in shares of Mind Medicine (MindMed) by 23.1% during the 1st quarter. Swiss National Bank now owns 951,100 shares of the company’s stock valued at $1,079,000 after acquiring an additional 178,300 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Mind Medicine (MindMed) by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 936,388 shares of the company’s stock valued at $1,039,000 after acquiring an additional 16,746 shares during the last quarter. Hedge funds and other institutional investors own 20.44% of the company’s stock.

Mind Medicine (MindMed) Company Profile

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Mind Medicine (MindMed) Inc, a clinical stage biopharmaceutical company, develops novel products to treat brain health disorders related to psychiatry, addiction, pain, and neurology. The company develops MM-120, which is in phase 2 for the treatment of generalized anxiety disorder and attention deficit hyperactivity disorder, as well as for the treatment of chronic pain; and MM-110, an a3ß4 nicotinic cholinergic receptor antagonist that has completed phase 1 for the treatment of opioid withdrawal.