Bright Minds Biosciences (NASDAQ:DRUG) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a research report released on Wednesday morning,Benzinga reports. Cantor Fitzgerald also issued estimates for Bright Minds Biosciences’ FY2025 earnings at ($2.35) EPS and FY2026 earnings at ($7.34) EPS.

Several other equities research analysts have also recently commented on DRUG. TD Cowen assumed coverage on shares of Bright Minds Biosciences in a research report on Tuesday, May 13th. They set a “buy” rating for the company. Cowen assumed coverage on shares of Bright Minds Biosciences in a research report on Tuesday, May 13th. They set a “buy” rating for the company. Wall Street Zen cut shares of Bright Minds Biosciences from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Finally, Chardan Capital reiterated a “buy” rating and set a $80.00 price target on shares of Bright Minds Biosciences in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.25.

Bright Minds Biosciences Trading Up 1.0%

DRUG opened at $28.30 on Wednesday. The stock has a market capitalization of $199.23 million, a PE ratio of -78.61 and a beta of -6.01. Bright Minds Biosciences has a 1-year low of $0.93 and a 1-year high of $79.02. The firm has a 50-day moving average price of $29.00 and a two-hundred day moving average price of $33.47.

Bright Minds Biosciences (NASDAQ:DRUG) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.10. On average, research analysts predict that Bright Minds Biosciences will post -1.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE bought a new position in Bright Minds Biosciences during the 4th quarter worth approximately $173,000. Jane Street Group LLC bought a new position in Bright Minds Biosciences during the 4th quarter worth approximately $238,000. OMERS ADMINISTRATION Corp bought a new position in Bright Minds Biosciences during the 1st quarter worth approximately $505,000. Atika Capital Management LLC bought a new position in Bright Minds Biosciences during the 4th quarter worth approximately $540,000. Finally, Goldman Sachs Group Inc. bought a new position in Bright Minds Biosciences during the 1st quarter worth approximately $802,000. Institutional investors own 40.52% of the company’s stock.

About Bright Minds Biosciences

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.