Cantor Fitzgerald Comments on Mind Medicine (MindMed) Inc.’s FY2023 Earnings (NASDAQ:MNMD)

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD – Get Rating) – Analysts at Cantor Fitzgerald issued their FY2023 earnings per share (EPS) estimates for shares of Mind Medicine (MindMed) in a research report issued on Monday, March 13th. Cantor Fitzgerald analyst C. Duncan forecasts that the company will earn ($1.51) per share for the year. The consensus estimate for Mind Medicine (MindMed)’s current full-year earnings is ($1.78) per share.

Mind Medicine (MindMed) (NASDAQ:MNMD – Get Rating) last announced its earnings results on Thursday, March 9th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.22.

MNMD has been the topic of a number of other research reports. UBS Group began coverage on Mind Medicine (MindMed) in a report on Thursday, December 15th. They set a “buy” rating and a $21.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $75.00 price objective on shares of Mind Medicine (MindMed) in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $5.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, March 10th. Canaccord Genuity Group decreased their price objective on Mind Medicine (MindMed) from $22.00 to $18.00 in a report on Monday, November 21st. Finally, Roth Capital restated a “buy” rating and set a $25.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, December 9th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Mind Medicine (MindMed) currently has an average rating of “Buy” and an average price target of $30.00.

Mind Medicine (MindMed) Stock Performance

Shares of NASDAQ:MNMD opened at $2.98 on Thursday. The business’s fifty day moving average price is $3.47 and its two-hundred day moving average price is $3.91. The stock has a market cap of $111.96 million, a PE ratio of -1.67 and a beta of 2.07. Mind Medicine has a one year low of $2.12 and a one year high of $19.95.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Telemetry Investments L.L.C. acquired a new position in Mind Medicine (MindMed) in the third quarter valued at $369,000. Merit Financial Group LLC raised its position in Mind Medicine (MindMed) by 103.0% in the third quarter. Merit Financial Group LLC now owns 1,080,574 shares of the company’s stock valued at $3,782,000 after purchasing an additional 548,187 shares during the period. Empery Asset Management LP purchased a new position in Mind Medicine (MindMed) in the third quarter valued at about $656,000. Quantum Private Wealth LLC purchased a new position in Mind Medicine (MindMed) in the second quarter valued at about $28,000. Finally, Laurion Capital Management LP purchased a new position in Mind Medicine (MindMed) in the second quarter valued at about $85,000. Institutional investors and hedge funds own 20.44% of the company’s stock.

Insider Activity at Mind Medicine (MindMed)

In related news, CEO Robert Barrow sold 8,273 shares of Mind Medicine (MindMed) stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $3.51, for a total value of $29,038.23. Following the transaction, the chief executive officer now owns 238,959 shares in the company, valued at $838,746.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 16,922 shares of company stock worth $55,237. 2.11% of the stock is owned by insiders.

About Mind Medicine (MindMed)

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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.