Investors are paying attention to heart medicineMNMD’s near-term strategic priorities and focus on advancing pipeline programs that are likely to be reflected in Q3 2022 results. These factors are most likely to create short-term value.
Mind Medicine’s earnings beat expectations in three of the following four quarters and fell short of the same expectations in the remaining quarters. The average negative surprise was 20%. In its last reported quarter, Mind Medicine posted a staggering 20% return.
Mind Medicine MindMed Inc. Price, Consensus, EPS Surprise
Mind Medicine MindMed Inc. price-consensus-eps-surprise chart |
Over the past year, Mind Medicine’s stock has fallen 86.4%, compared to the industry’s 24.6% decline.
Image Source: Sachs Investment Research
Let’s see how things are shaping up for the reported quarter.
Factors to consider
Mind Medicine is a biopharmaceutical company focused on developing products that target the serotonin, dopamine, and acetylcholine systems. The company now has three of his product candidates in its portfolio: Mind Medicine’s flagship products, his MM-120, MM-110 and MM-402.
In Q3 2022, Company Advances MM-120 Program, MM-402 Program and R(-)-MDMA for Generalized Anxiety Disorder (“GAD”) and Attention Deficit Hyperactivity Disorder (“ADHD”) I took steps to make it happen. program.
In August, Mind Medicine reported the first patient dosing in a Phase IIb dose-optimization study of MM-120 (200 µg) to treat GAD. Results from the Phase 2 trial will determine dose selection and development strategy for the candidate’s Phase 3 trial.
In May, the company announced positive topline results from a Phase I placebo-controlled trial of MM-110 evaluating the safety, tolerability, pharmacokinetics and neurocognitive effects of MM-110. The study results demonstrate the potential clinical utility of MM-110 in safely relieving opioid withdrawal symptoms. Results from the Phase I trial helped determine the dose and design of the candidate’s Phase II trial.
The company plans to develop MM-110 in Phase II clinical trials and is exploring collaborations with third parties to advance the program, details of which are expected in its third quarter earnings call. .
The company plans to initiate Phase 1 trials of its MM-402 candidate in the second half of 2023. Third quarter of 2023.
In the second quarter, management decided to reduce funding allocations to early-stage research programs. Accordingly, operating expenses are expected to be lower in the quarter reported. The company is looking for meaningful resources to be assigned to its high-priority programs.
Post-Quarter Developments
In September, the company announced the first patient dosing in a Phase 1 investigator-initiated study evaluating the effects of MDA, Lys-MDMA and MDMA mimetics, including Lys-MDA, against placebo in healthy volunteers. did.
Earnings whisper
Our proven model expects to outperform Mind Medicine’s earnings at this time. A combination of positive earnings ESP and a Zacks rank of 1 (strong buy), 2 (buy), or 3 (hold) increases the likelihood of winning above earnings. Earnings ESP filters help you find the best stocks to buy or sell before they’re reported.
Revenue ESP: Mind Medicine MindMed Earnings ESP +5.71%. This is because the Zacks Consensus Estimate is lower than the Most Accurate Estimate, which is fixed at a loss of 55 cents.
Zack Rank: Mind Medicine currently has Zacks Rank 2 (Buy).You can do it See the full list of today’s Zacks #1 ranked stocks here.
Stocks to consider
Here are some stocks in the same industry with the right mix of factors to beat the gains this time around.
Aveo Pharmaceutical AVEO has a revenue ESP of +8.16% and Zack ranks second.
Aveo’s stock is up 215.1% so far this year. AVEO beat expectations in three of his last four quarters and underperformed in one quarter. There is an average earnings surprise of 13.10%.
editas medicine EDIT has a revenue ESP of +3.47% and Zack ranks second.
Editas’ stock is down 56.2% year-to-date. EDIT beat earnings expectations in each of his four subsequent quarters, with an average surprise of 17.82%.
immunocore IMCR has a revenue ESP of 73.75% and Zack ranks #3 (hold).
Immunocore’s stock price is up 69.7% year-to-date. IMCR beat expectations in three of his last four quarters, but fell short in one quarter. There is an average profit surprise of 33.28%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar
5 strains set to double
Both have been handpicked by Zach’s experts as their #1 favorite stocks to earn +100% or more in 2021. Previous recommendations jumped +143.0%, +175.9%, +498.3%, +673.0%.
Most of the stocks in this report are flying under Wall Street’s radar, offering a great opportunity to enter the first floor.See these 5 potential homeruns today >>
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AVEO Pharmaceuticals, Inc. (AVEO): Free Stock Analysis Report
Editas Medicine, Inc. (EDIT): Free Stock Analysis Report
Immunocore Holdings PLC Sponsored ADR (IMCR): Free Stock Analysis Report
Mind Medicine MindMed Inc. (MNMD): Free Stock Analysis Report
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