What is HC Wainwright’s Forecast for MNMD FY2028 Earnings?

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) – Equities researchers at HC Wainwright boosted their FY2028 earnings estimates for shares of Mind Medicine (MindMed) in a note issued to investors on Monday, August 4th. HC Wainwright analyst P. Trucchio now expects that the company will post earnings per share of $0.37 for the year, up from their previous forecast of $0.30. The consensus estimate for Mind Medicine (MindMed)’s current full-year earnings is ($1.35) per share. HC Wainwright also issued estimates for Mind Medicine (MindMed)’s FY2029 earnings at $2.94 EPS.

Several other equities analysts have also recently weighed in on the company. Chardan Capital reiterated a “buy” rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, August 1st. Oppenheimer started coverage on shares of Mind Medicine (MindMed) in a report on Monday. They set an “outperform” rating and a $25.00 target price on the stock. Finally, Cantor Fitzgerald raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Tuesday, May 13th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $24.71.

Mind Medicine (MindMed) Stock Performance

MNMD stock opened at $9.64 on Tuesday. Mind Medicine has a 1-year low of $4.70 and a 1-year high of $10.44. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 0.22. The firm has a market cap of $728.30 million, a PE ratio of -6.30 and a beta of 2.49. The business’s 50-day moving average price is $7.91 and its two-hundred day moving average price is $7.15.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings results on Thursday, July 31st. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.12).

Insider Activity

In related news, CEO Robert Barrow sold 26,491 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $6.80, for a total transaction of $180,138.80. Following the completion of the transaction, the chief executive officer directly owned 830,065 shares of the company’s stock, valued at approximately $5,644,442. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel Karlin sold 7,848 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $6.80, for a total value of $53,366.40. Following the completion of the transaction, the insider owned 438,329 shares of the company’s stock, valued at approximately $2,980,637.20. This represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,830 shares of company stock worth $311,644 over the last ninety days. Insiders own 2.26% of the company’s stock.

Institutional Investors Weigh In On Mind Medicine (MindMed)

Large investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas increased its stake in shares of Mind Medicine (MindMed) by 9.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 16,260 shares of the company’s stock worth $106,000 after purchasing an additional 1,400 shares during the last quarter. CWM LLC lifted its holdings in shares of Mind Medicine (MindMed) by 67.4% during the second quarter. CWM LLC now owns 4,459 shares of the company’s stock worth $29,000 after buying an additional 1,796 shares in the last quarter. Blair William & Co. IL raised its stake in Mind Medicine (MindMed) by 77.7% in the 2nd quarter. Blair William & Co. IL now owns 22,218 shares of the company’s stock worth $144,000 after purchasing an additional 9,718 shares in the last quarter. Palumbo Wealth Management LLC boosted its stake in shares of Mind Medicine (MindMed) by 6.3% in the second quarter. Palumbo Wealth Management LLC now owns 24,043 shares of the company’s stock valued at $156,000 after buying an additional 1,415 shares during the period. Finally, Bay Rivers Group bought a new stake in shares of Mind Medicine (MindMed) during the 2nd quarter valued at $75,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

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.