Bright Minds Biosciences’ (DRUG) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a report published on Tuesday morning,Benzinga reports. They currently have a $85.00 price objective on the stock. HC Wainwright also issued estimates for Bright Minds Biosciences’ FY2025 earnings at ($1.86) EPS, Q2 2026 earnings at ($1.29) EPS, Q4 2026 earnings at ($1.83) EPS, FY2026 earnings at ($5.76) EPS, FY2027 earnings at ($5.87) EPS and FY2028 earnings at ($5.95) EPS.

DRUG has been the topic of a number of other reports. Chardan Capital reissued a “buy” rating and issued a $80.00 price target on shares of Bright Minds Biosciences in a research note on Wednesday, May 21st. TD Cowen started coverage on shares of Bright Minds Biosciences in a research note on Tuesday, May 13th. They set a “buy” rating on the stock. Cowen started coverage on shares of Bright Minds Biosciences in a research note on Tuesday, May 13th. They set a “buy” rating on the stock. Wall Street Zen downgraded shares of Bright Minds Biosciences from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bright Minds Biosciences in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat.com, Bright Minds Biosciences has a consensus rating of “Buy” and an average price target of $83.25.

Bright Minds Biosciences Stock Performance

Bright Minds Biosciences stock opened at $42.13 on Tuesday. The company’s 50 day simple moving average is $31.37 and its 200-day simple moving average is $32.70. The company has a market capitalization of $296.60 million, a price-to-earnings ratio of -45.30 and a beta of -6.07. Bright Minds Biosciences has a 1 year low of $0.94 and a 1 year high of $79.02.

Bright Minds Biosciences (NASDAQ:DRUG) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.06. Equities analysts expect that Bright Minds Biosciences will post -1.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Bright Minds Biosciences during the 2nd quarter worth approximately $66,000. Sio Capital Management LLC grew its holdings in Bright Minds Biosciences by 0.9% during the 2nd quarter. Sio Capital Management LLC now owns 512,338 shares of the company’s stock worth $13,377,000 after acquiring an additional 4,776 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Bright Minds Biosciences during the 2nd quarter worth approximately $107,000. JPMorgan Chase & Co. grew its holdings in Bright Minds Biosciences by 624.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,173 shares of the company’s stock worth $57,000 after acquiring an additional 1,873 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in Bright Minds Biosciences during the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds own 40.52% of the company’s stock.

Bright Minds Biosciences Company Profile

Bright Minds Biosciences Inc, a biotechnology company, develops therapeutics to improve the lives of patients with severe and life-altering diseases in the United States. Its portfolio of selective 5-HT receptor agonists includes 5-HT2C, 5-HT2A, and 5-HT2C/A for the treatment of epilepsy, pain, and neuropsychiatry; and BMB-101 which completes phase 1 trial for undisclosed seizure disorder.