Bright Minds Biosciences (NASDAQ:DRUG) Posts Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Bright Minds Biosciences (NASDAQ:DRUG) issued its quarterly earnings results on Thursday. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.24, Zacks reports.

Bright Minds Biosciences Price Performance

DRUG opened at $45.89 on Friday. The stock’s 50-day moving average price is $38.02 and its 200 day moving average price is $24.92. Bright Minds Biosciences has a 12-month low of $0.93 and a 12-month high of $79.02. The company has a current ratio of 11.31, a quick ratio of 11.31 and a debt-to-equity ratio of 0.01. The firm has a market cap of $203.29 million, a price-to-earnings ratio of -90.65 and a beta of -6.71.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DRUG. Piper Sandler began coverage on Bright Minds Biosciences in a research report on Thursday, January 23rd. They set an “overweight” rating and a $93.00 price target for the company. Baird R W upgraded Bright Minds Biosciences to a “strong-buy” rating in a report on Monday, November 25th. Robert W. Baird began coverage on Bright Minds Biosciences in a report on Monday, November 25th. They issued an “outperform” rating and a $75.00 target price for the company. HC Wainwright began coverage on Bright Minds Biosciences in a report on Friday, January 10th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Cantor Fitzgerald assumed coverage on Bright Minds Biosciences in a report on Friday, January 10th. They issued an “overweight” rating for the company. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $84.33.

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.