Equities Analysts Offer Predictions for DRUG FY2025 Earnings

Bright Minds Biosciences Inc. (NASDAQ:DRUG) – Equities research analysts at Cantor Fitzgerald issued their FY2025 earnings estimates for Bright Minds Biosciences in a report released on Tuesday, May 13th. Cantor Fitzgerald analyst P. Stavropoulos expects that the company will post earnings per share of ($0.87) for the year. Cantor Fitzgerald has a “Strong-Buy” rating on the stock. The consensus estimate for Bright Minds Biosciences’ current full-year earnings is ($1.24) per share.

Several other research firms have also issued reports on DRUG. Piper Sandler assumed coverage on Bright Minds Biosciences in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $93.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Bright Minds Biosciences in a research report on Wednesday, February 19th. Cowen began coverage on shares of Bright Minds Biosciences in a research report on Tuesday. They set a “buy” rating for the company. Chardan Capital initiated coverage on shares of Bright Minds Biosciences in a research note on Wednesday, May 7th. They issued a “buy” rating and a $80.00 target price for the company. Finally, TD Cowen started coverage on Bright Minds Biosciences in a research report on Tuesday. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $83.25.

Bright Minds Biosciences Trading Up 2.1%

DRUG opened at $32.36 on Thursday. The firm has a market cap of $227.94 million, a price-to-earnings ratio of -190.34 and a beta of -5.32. Bright Minds Biosciences has a 12 month low of $0.93 and a 12 month high of $79.02. The stock has a fifty day moving average price of $32.87 and a 200-day moving average price of $36.92.

Bright Minds Biosciences (NASDAQ:DRUG) last announced its earnings results on Wednesday, May 21st. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.09.

Hedge Funds Weigh In On Bright Minds Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC purchased a new stake in Bright Minds Biosciences during the 4th quarter worth approximately $18,392,000. RA Capital Management L.P. acquired a new stake in shares of Bright Minds Biosciences during the fourth quarter worth $16,599,000. Vivo Capital LLC acquired a new stake in shares of Bright Minds Biosciences during the fourth quarter worth $9,062,000. Point72 Asset Management L.P. purchased a new stake in shares of Bright Minds Biosciences during the fourth quarter valued at $4,870,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Bright Minds Biosciences in the 4th quarter valued at $4,773,000. 40.52% of the stock is owned by hedge funds and other institutional investors.

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.