Mind Medicine (MindMed) (MNMD) to Release Quarterly Earnings on Wednesday

Mind Medicine (MindMed) (NASDAQ:MNMD) is projected to release its earnings data before the market opens on Wednesday, February 26th. Analysts expect Mind Medicine (MindMed) to post earnings of ($0.31) per share for the quarter.

Mind Medicine (MindMed) Stock Performance

Shares of MNMD opened at $8.51 on Wednesday. Mind Medicine has a one year low of $4.50 and a one year high of $12.22. The company has a market cap of $624.04 million, a PE ratio of -3.77 and a beta of 2.59. The stock has a 50-day moving average of $7.49 and a 200-day moving average of $6.90. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MNMD shares. Oppenheimer reissued an “outperform” rating and issued a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. HC Wainwright reissued a “buy” rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a research report on Friday, January 31st. Evercore ISI initiated coverage on shares of Mind Medicine (MindMed) in a report on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price target on the stock. Finally, Chardan Capital began coverage on Mind Medicine (MindMed) in a report on Friday, December 20th. They set a “buy” rating and a $20.00 price objective for the company. Ten investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Mind Medicine (MindMed) presently has an average rating of “Buy” and a consensus target price of $26.33.

Insiders Place Their Bets

In other news, insider Dan Karlin sold 6,643 shares of the firm’s 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 $49,357.49. Following the completion of the transaction, the insider now owns 338,013 shares in the company, valued at $2,511,436.59. This trade represents a 1.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert Barrow sold 19,106 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 526,666 shares in the company, valued at approximately $3,913,128.38. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,022 shares of company stock worth $208,203 over the last three months. Company insiders own 2.26% of the company’s stock.

About Mind Medicine (MindMed)

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.