Bright Minds Biosciences (NASDAQ:DRUG) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler started coverage on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $93.00 price target on the stock. Piper Sandler’s price target would indicate a potential upside of 178.86% from the company’s current price.

DRUG has been the subject of a number of other reports. Robert W. Baird started coverage on shares of Bright Minds Biosciences in a research report on Monday, November 25th. They set an “outperform” rating and a $75.00 target price for the company. Cantor Fitzgerald started coverage on Bright Minds Biosciences in a report on Friday, January 10th. They set an “overweight” rating for the company. HC Wainwright began coverage on Bright Minds Biosciences in a research report on Friday, January 10th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Baird R W upgraded Bright Minds Biosciences to a “strong-buy” rating in a research note on Monday, November 25th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $84.33.

Bright Minds Biosciences Stock Performance

Shares of Bright Minds Biosciences stock opened at $33.35 on Thursday. The business’s fifty day simple moving average is $38.57 and its 200 day simple moving average is $21.00. The company has a current ratio of 11.31, a quick ratio of 11.31 and a debt-to-equity ratio of 0.01. Bright Minds Biosciences has a 12 month low of $0.93 and a 12 month high of $79.02. The firm has a market capitalization of $147.74 million, a P/E ratio of -66.70 and a beta of -6.52.

Bright Minds Biosciences (NASDAQ:DRUG) last released its earnings results on Monday, December 30th. The company reported ($0.12) EPS for the quarter. As a group, analysts anticipate that Bright Minds Biosciences will post -2.58 EPS for the current year.

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.