Cantor Fitzgerald Analysts Cut Earnings Estimates for MNMD

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) – Analysts at Cantor Fitzgerald reduced their FY2025 EPS estimates for Mind Medicine (MindMed) in a research report issued to clients and investors on Wednesday, May 21st. Cantor Fitzgerald analyst C. Duncan now anticipates that the company will post earnings of ($1.53) per share for the year, down from their previous forecast of ($1.39). Cantor Fitzgerald currently has a “Strong-Buy” rating on the stock. The consensus estimate for Mind Medicine (MindMed)’s current full-year earnings is ($1.35) per share.

MNMD has been the topic of several other reports. Robert W. Baird decreased their target price on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a research note on Friday, March 7th. Evercore ISI assumed coverage on Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price target on the stock. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday, May 9th. Nine analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $25.11.

Mind Medicine (MindMed) Price Performance

Mind Medicine (MindMed) stock opened at $7.30 on Friday. The firm has a market cap of $550.19 million, a PE ratio of -3.23 and a beta of 2.52. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00. The stock’s fifty day moving average price is $6.20 and its two-hundred day moving average price is $6.99. Mind Medicine has a one year low of $4.70 and a one year high of $10.44.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.01.

Insider Buying and Selling

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

Institutional Investors Weigh In On Mind Medicine (MindMed)

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in shares of Mind Medicine (MindMed) by 8.2% during the third quarter. JPMorgan Chase & Co. now owns 36,995 shares of the company’s stock valued at $211,000 after buying an additional 2,797 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Mind Medicine (MindMed) by 48.8% in the fourth quarter. SG Americas Securities LLC now owns 24,406 shares of the company’s stock valued at $170,000 after acquiring an additional 8,004 shares in the last quarter. Foundations Investment Advisors LLC purchased a new stake in shares of Mind Medicine (MindMed) in the 4th quarter worth about $91,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Mind Medicine (MindMed) during the 4th quarter valued at about $108,000. Finally, Rhumbline Advisers raised its stake in Mind Medicine (MindMed) by 5.1% in the fourth quarter. Rhumbline Advisers now owns 100,695 shares of the company’s stock worth $701,000 after buying an additional 4,868 shares in the last quarter. 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, which is in phase I clinical trials for the treatment of core symptoms of autism spectrum disorder.