Leerink Partnrs Has Bearish Outlook for MNMD Q4 Earnings

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) – Equities research analysts at Leerink Partnrs reduced their Q4 2024 earnings estimates for shares of Mind Medicine (MindMed) in a research report issued on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now forecasts that the company will earn ($0.32) per share for the quarter, down from their prior forecast of ($0.31). Leerink Partnrs 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. Leerink Partnrs also issued estimates for Mind Medicine (MindMed)’s Q2 2025 earnings at ($0.37) EPS, Q3 2025 earnings at ($0.44) EPS, Q4 2025 earnings at ($0.44) EPS, FY2025 earnings at ($1.60) EPS, FY2026 earnings at ($1.60) EPS, FY2027 earnings at ($1.40) EPS and FY2028 earnings at ($1.20) EPS.

Several other brokerages also recently commented on MNMD. Evercore ISI began coverage on shares of Mind Medicine (MindMed) in a research report on Tuesday. They set an “outperform” rating and a $23.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $55.00 price target on shares of Mind Medicine (MindMed) in a report on Monday, November 11th. Leerink Partners assumed coverage on Mind Medicine (MindMed) in a research report on Monday, October 14th. They set an “outperform” rating and a $20.00 price objective for the company. Oppenheimer reiterated an “outperform” rating and issued a $20.00 target price on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Finally, Chardan Capital assumed coverage on Mind Medicine (MindMed) in a research note on Friday, December 20th. They set a “buy” rating and a $20.00 target price for the company. Ten equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $26.33.

Mind Medicine (MindMed) Stock Down 2.6 %

Shares of NASDAQ:MNMD opened at $7.13 on Friday. The firm has a 50 day moving average of $7.28 and a 200-day moving average of $6.94. Mind Medicine has a 12 month low of $3.82 and a 12 month high of $12.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.02. During the same period last year, the firm earned ($0.53) earnings per share.

Insider Transactions at Mind Medicine (MindMed)

In other news, insider Dan Karlin sold 6,643 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $7.43, for a total transaction of $49,357.49. Following the completion of the transaction, the insider now directly owns 338,013 shares in the company, valued at $2,511,436.59. This trade represents a 1.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Barrow sold 19,106 shares of Mind Medicine (MindMed) stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total value of $141,957.58. Following the completion of the transaction, the chief executive officer now directly owns 526,666 shares in the company, valued at approximately $3,913,128.38. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,022 shares of company stock worth $208,203. Insiders own 2.26% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC boosted its stake in shares of 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. The Manufacturers Life Insurance Company acquired a new position in Mind Medicine (MindMed) in the second quarter valued at $197,000. SG Americas Securities LLC bought a new stake in Mind Medicine (MindMed) during the third quarter valued at $93,000. Wealth Enhancement Advisory Services LLC bought a new stake in Mind Medicine (MindMed) during the third quarter valued at $58,000. Finally, Stoneridge Investment Partners LLC acquired a new stake in Mind Medicine (MindMed) during the 3rd quarter worth about $93,000. Institutional investors own 27.91% 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.