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

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) – Investment analysts at Leerink Partnrs issued their Q1 2024 earnings per share estimates for Mind Medicine (MindMed) in a research report issued on Monday, April 15th. Leerink Partnrs analyst R. Li expects that the company will post earnings of ($1.18) per share for the quarter. Leerink Partnrs 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.

Mind Medicine (MindMed) (NASDAQ:MNMD) last issued its earnings results on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11).

Several other research firms also recently issued reports on MNMD. SVB Leerink began coverage on Mind Medicine (MindMed) in a research note on Monday. They issued an “outperform” rating and a $20.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $75.00 target price on shares of Mind Medicine (MindMed) in a research report on Thursday, March 14th. Finally, Royal Bank of Canada increased their target price on shares of Mind Medicine (MindMed) from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Mind Medicine (MindMed) has an average rating of “Buy” and an average target price of $25.20.

Mind Medicine (MindMed) Stock Performance

Mind Medicine (MindMed) stock opened at $9.53 on Wednesday. The business has a 50 day moving average of $7.89 and a 200-day moving average of $4.89. Mind Medicine has a 1 year low of $2.41 and a 1 year high of $12.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.22 and a quick ratio of 3.22. The company has a market capitalization of $669.65 million, a P/E ratio of -3.89 and a beta of 2.81.

Insider Transactions at Mind Medicine (MindMed)

In other news, insider Dan Karlin sold 6,578 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were 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 owns 358,452 shares of the company’s stock, valued at approximately $3,405,294. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Robert Barrow sold 16,519 shares of Mind Medicine (MindMed) stock in a transaction on Monday, March 25th. The shares were sold at an average price of $9.50, for a total value of $156,930.50. Following the completion of the sale, the chief executive officer now owns 580,202 shares of the company’s stock, valued at approximately $5,511,919. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Dan Karlin sold 6,578 shares of Mind Medicine (MindMed) stock in a transaction on Monday, March 25th. The shares were 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 of the company’s stock, valued at approximately $3,405,294. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On Mind Medicine (MindMed)

A number of hedge funds have recently made changes to their positions in MNMD. Royal Bank of Canada raised its stake in Mind Medicine (MindMed) by 60.7% in the 2nd quarter. Royal Bank of Canada now owns 7,474 shares of the company’s stock valued at $27,000 after acquiring an additional 2,824 shares during the period. Qube Research & Technologies Ltd purchased a new position in Mind Medicine (MindMed) during the 3rd quarter valued at about $28,000. Virtu Financial LLC purchased a new position in shares of Mind Medicine (MindMed) during the first quarter worth about $29,000. Regal Investment Advisors LLC purchased a new position in shares of Mind Medicine (MindMed) during the third quarter worth about $46,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Mind Medicine (MindMed) during the third quarter worth about $53,000. 27.91% of the stock is currently owned by institutional investors.

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.