Mind Medicine (MindMed) (NASDAQ:MNMD) PT Lowered to $35.00

Mind Medicine (MindMed) (NASDAQ:MNMDGet Free Report) had its price objective decreased by equities research analysts at HC Wainwright from $75.00 to $35.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 277.97% from the stock’s previous close. HC Wainwright also issued estimates for Mind Medicine (MindMed)’s Q1 2025 earnings at ($0.36) EPS, Q2 2025 earnings at ($0.36) EPS, Q3 2025 earnings at ($0.36) EPS and Q4 2025 earnings at ($0.37) EPS.

A number of other equities research analysts also recently commented on MNMD. SVB Leerink began coverage on shares of Mind Medicine (MindMed) in a report on Monday, April 15th. They set an “outperform” rating and a $20.00 price target for the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of Mind Medicine (MindMed) in a research note on Monday, April 15th. Finally, Royal Bank of Canada increased their target price on shares of Mind Medicine (MindMed) from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $17.20.

Read Our Latest Stock Analysis on MNMD

Mind Medicine (MindMed) Stock Performance

MNMD stock opened at $9.26 on Friday. The company has a quick ratio of 3.22, a current ratio of 3.91 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average price is $9.31 and its 200 day moving average price is $5.63. Mind Medicine has a 1 year low of $2.41 and a 1 year high of $12.22.

Mind Medicine (MindMed) (NASDAQ:MNMDGet Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). As a group, research analysts forecast that Mind Medicine will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Dan Karlin sold 6,578 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $9.50, for a total value of $62,491.00. Following the sale, the insider now owns 358,452 shares in the company, valued at approximately $3,405,294. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Robert Barrow sold 16,519 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $9.50, for a total transaction of $156,930.50. Following the completion of the transaction, the chief executive officer now owns 580,202 shares in the company, valued at approximately $5,511,919. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dan Karlin sold 6,578 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $9.50, for a total value of $62,491.00. Following the completion of the sale, the insider now directly owns 358,452 shares in the company, valued at $3,405,294. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

Hedge Funds Weigh In On Mind Medicine (MindMed)

Several hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC bought a new stake in Mind Medicine (MindMed) in the 3rd quarter valued at about $53,000. AdvisorShares Investments LLC boosted its position in Mind Medicine (MindMed) by 28.5% during the 3rd quarter. AdvisorShares Investments LLC now owns 117,411 shares of the company’s stock worth $367,000 after acquiring an additional 26,047 shares during the period. Jump Financial LLC acquired a new stake in Mind Medicine (MindMed) in the third quarter worth about $106,000. Rathbones Group PLC acquired a new position in Mind Medicine (MindMed) during the 3rd quarter valued at about $78,000. Finally, Regal Investment Advisors LLC acquired a new stake in shares of Mind Medicine (MindMed) in the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

About Mind Medicine (MindMed)

(Get Free Report)

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.

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