Cantor Fitzgerald Forecasts MNMD FY2025 Earnings

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) – Equities researchers at Cantor Fitzgerald issued their FY2025 earnings per share estimates for shares of Mind Medicine (MindMed) in a report issued on Monday, May 12th. Cantor Fitzgerald analyst C. Duncan expects that the company will earn ($1.39) per share for the year. The consensus estimate for Mind Medicine (MindMed)’s current full-year earnings is ($1.35) per share.

A number of other analysts also recently issued reports on the stock. Chardan Capital reaffirmed a “buy” rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, May 9th. Robert W. Baird dropped their target price on Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Evercore ISI assumed coverage on shares of Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday, March 7th. Ten investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $25.11.

Mind Medicine (MindMed) Trading Down 1.2%

Shares of Mind Medicine (MindMed) stock opened at $6.37 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00. Mind Medicine has a 1 year low of $4.70 and a 1 year high of $10.44. The firm has a market cap of $480.09 million, a PE ratio of -2.82 and a beta of 2.52. The company has a 50 day simple moving average of $6.12 and a two-hundred day simple moving average of $6.95.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.01.

Hedge Funds Weigh In On Mind Medicine (MindMed)

Several hedge funds and other institutional investors have recently bought and sold shares of MNMD. Corebridge Financial Inc. lifted its holdings in shares of Mind Medicine (MindMed) by 4.1% during the 4th quarter. Corebridge Financial Inc. now owns 40,064 shares of the company’s stock valued at $279,000 after buying an additional 1,569 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Mind Medicine (MindMed) by 6.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,867 shares of the company’s stock valued at $169,000 after acquiring an additional 1,669 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Mind Medicine (MindMed) by 9.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 21,492 shares of the company’s stock valued at $150,000 after acquiring an additional 1,928 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Mind Medicine (MindMed) by 21.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,430 shares of the company’s stock worth $87,000 after purchasing an additional 2,230 shares during the last quarter. Finally, Woodline Partners LP grew its stake in shares of Mind Medicine (MindMed) by 0.3% during the 4th quarter. Woodline Partners LP now owns 1,005,198 shares of the company’s stock valued at $6,996,000 after purchasing an additional 2,654 shares during the period. Institutional investors own 27.91% of the company’s stock.

Insider Activity

In other Mind Medicine (MindMed) news, insider Daniel Karlin sold 6,836 shares of Mind Medicine (MindMed) stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $6.74, for a total value of $46,074.64. Following the completion of the transaction, the insider now directly owns 446,177 shares of the company’s stock, valued at approximately $3,007,232.98. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Barrow sold 21,208 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total transaction of $142,941.92. Following the completion of the transaction, the chief executive officer now owns 856,556 shares of the company’s stock, valued at approximately $5,773,187.44. The trade was a 2.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,391 shares of company stock worth $204,835. Insiders own 2.45% 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.