Analysts Set Expectations for Mind Medicine (MindMed) Inc.’s Q1 2024 Earnings (NASDAQ:MNMD)

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) – Equities researchers at Leerink Partnrs issued their Q1 2024 earnings per share estimates for shares of Mind Medicine (MindMed) in a note issued to investors on Monday, April 15th. Leerink Partnrs analyst R. Li anticipates that the company will earn ($1.18) per share for the quarter. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Mind Medicine (MindMed)’s current full-year earnings is ($1.70) per share. Leerink Partnrs also issued estimates for Mind Medicine (MindMed)’s Q2 2024 earnings at ($0.25) EPS, Q3 2024 earnings at ($0.28) EPS, Q4 2024 earnings at ($0.40) EPS, FY2024 earnings at ($1.80) EPS, FY2025 earnings at ($1.65) EPS, FY2026 earnings at ($1.65) EPS, FY2027 earnings at ($1.45) EPS and FY2028 earnings at ($0.15) EPS.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada increased their target price on Mind Medicine (MindMed) from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. SVB Leerink assumed coverage on Mind Medicine (MindMed) in a research report on Monday. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $75.00 target price on shares of Mind Medicine (MindMed) in a research report on Thursday, March 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $25.20.

Mind Medicine (MindMed) Price Performance

Shares of NASDAQ:MNMD opened at $9.53 on Wednesday. The business’s fifty day moving average price is $7.89 and its two-hundred day moving average price is $4.89. The stock has a market cap of $669.65 million, a PE ratio of -3.89 and a beta of 2.81. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.22 and a current ratio of 3.22. Mind Medicine has a one year low of $2.41 and a one year high of $12.22.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11).

Hedge Funds Weigh In On Mind Medicine (MindMed)

Hedge funds have recently bought and sold shares of the company. Citigroup Inc. acquired a new position in Mind Medicine (MindMed) in the third quarter worth about $273,000. Commonwealth Equity Services LLC bought a new position in Mind Medicine (MindMed) in the third quarter worth about $53,000. Rathbones Group PLC bought a new position in Mind Medicine (MindMed) in the third quarter worth about $78,000. Jump Financial LLC bought a new position in Mind Medicine (MindMed) in the third quarter worth about $106,000. Finally, Regal Investment Advisors LLC bought a new position in Mind Medicine (MindMed) in the third quarter worth about $46,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Mind Medicine (MindMed)

In other news, insider Dan Karlin sold 6,578 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $9.50, for a total transaction of $62,491.00. Following the completion of the sale, the insider now directly owns 358,452 shares in the company, valued at $3,405,294. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Dan Karlin sold 6,578 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $9.50, for a total transaction of $62,491.00. Following the completion of the sale, the insider now directly owns 358,452 shares in the company, valued at $3,405,294. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Barrow sold 16,519 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $9.50, for a total value of $156,930.50. Following the sale, the chief executive officer now owns 580,202 shares of the company’s stock, valued at $5,511,919. The disclosure for this sale can be found here. 2.11% of the stock is owned by 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 for the treatment of core symptoms of autism spectrum disorder.