Q3 2024 Earnings Forecast for Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Issued By Roth Capital

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) – Research analysts at Roth Capital increased their Q3 2024 earnings per share (EPS) estimates for shares of Mind Medicine (MindMed) in a research report issued to clients and investors on Wednesday, August 14th. Roth Capital analyst J. Wittes now forecasts that the company will post earnings of ($0.31) per share for the quarter, up from their prior estimate of ($0.32). Roth Capital 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. Roth Capital also issued estimates for Mind Medicine (MindMed)’s Q4 2024 earnings at ($0.34) EPS, FY2024 earnings at ($1.25) EPS, Q1 2025 earnings at ($0.34) EPS, Q2 2025 earnings at ($0.34) EPS, Q3 2025 earnings at ($0.34) EPS, Q4 2025 earnings at ($0.35) EPS, FY2025 earnings at ($1.37) EPS, FY2026 earnings at ($1.67) EPS, FY2027 earnings at $1.07 EPS and FY2028 earnings at $4.32 EPS.

MNMD has been the subject of several other research reports. Oppenheimer reaffirmed an “outperform” rating and set a $20.00 target price (down previously from $29.00) on shares of Mind Medicine (MindMed) in a report on Monday, May 13th. Robert W. Baird assumed coverage on Mind Medicine (MindMed) in a research report on Tuesday, May 28th. They issued an “outperform” rating and a $27.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mind Medicine (MindMed) in a research note on Friday, June 21st. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price target on shares of Mind Medicine (MindMed) in a research note on Wednesday, June 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Mind Medicine (MindMed) in a report on Wednesday, July 31st. Nine analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Mind Medicine (MindMed) currently has a consensus rating of “Buy” and an average price target of $22.00.

Mind Medicine (MindMed) Trading Down 0.9 %

MNMD stock opened at $6.36 on Friday. Mind Medicine has a one year low of $2.41 and a one year high of $12.22. The stock has a market cap of $457.11 million, a price-to-earnings ratio of -2.16 and a beta of 2.58. The company has a fifty day moving average price of $7.65 and a two-hundred day moving average price of $7.84. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.91 and a quick ratio of 3.91.

Insider Activity

In related news, CEO Robert Barrow sold 15,659 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $7.22, for a total value of $113,057.98. Following the transaction, the chief executive officer now owns 564,543 shares in the company, valued at $4,076,000.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Robert Barrow sold 15,659 shares of Mind Medicine (MindMed) stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $7.22, for a total value of $113,057.98. Following the transaction, the chief executive officer now directly owns 564,543 shares of the company’s stock, valued at $4,076,000.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dan Karlin sold 6,925 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $7.22, for a total transaction of $49,998.50. Following the transaction, the insider now owns 351,527 shares of the company’s stock, valued at $2,538,024.94. The disclosure for this sale can be found here. Corporate insiders own 2.26% of the company’s stock.

Institutional Trading of Mind Medicine (MindMed)

Several large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company bought a new position in shares of Mind Medicine (MindMed) in the second quarter worth about $197,000. Cubist Systematic Strategies LLC lifted its stake in Mind Medicine (MindMed) by 24.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 35,508 shares of the company’s stock valued at $256,000 after purchasing an additional 6,890 shares during the last quarter. Marshall Wace LLP boosted its position in Mind Medicine (MindMed) by 8.1% in the second quarter. Marshall Wace LLP now owns 2,160,203 shares of the company’s stock valued at $15,575,000 after buying an additional 161,659 shares in the last quarter. Tri Locum Partners LP grew its stake in shares of Mind Medicine (MindMed) by 0.6% during the second quarter. Tri Locum Partners LP now owns 382,055 shares of the company’s stock worth $2,755,000 after buying an additional 2,459 shares during the last quarter. Finally, Bridgewealth Advisory Group LLC acquired a new position in shares of Mind Medicine (MindMed) during the second quarter worth $72,000. 27.91% of the stock is owned by institutional investors and hedge funds.

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.