Mind Medicine (MindMed) (MNMD) Projected to Post Quarterly Earnings on Wednesday

Mind Medicine (MindMed) (NASDAQ:MNMD) is projected to announce its earnings results before the market opens on Wednesday, February 26th. Analysts expect the company to announce earnings of ($0.31) per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Mind Medicine (MindMed) Stock Down 5.9 %

Shares of MNMD opened at $7.18 on Tuesday. Mind Medicine has a 52 week low of $4.66 and a 52 week high of $12.22. The firm has a market cap of $526.51 million, a P/E ratio of -3.18 and a beta of 2.59. The firm’s 50-day simple moving average is $7.54 and its 200 day simple moving average is $6.91. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00.

Analysts Set New Price Targets

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

Insider Transactions at Mind Medicine (MindMed)

In other news, insider Dan Karlin sold 6,643 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $49,357.49. Following the completion of the sale, the insider now owns 338,013 shares of the company’s stock, valued at approximately $2,511,436.59. This represents a 1.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert Barrow sold 19,106 shares of the company’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 transaction of $141,957.58. Following the sale, the chief executive officer now directly owns 526,666 shares of the company’s stock, valued at approximately $3,913,128.38. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,022 shares of company stock valued at $208,203. 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.