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

HC Wainwright reissued their buy rating on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a research report report published on Tuesday morning,Benzinga reports. The firm currently has 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.

Several other research analysts have also recently issued reports on DRUG. Cantor Fitzgerald restated an “overweight” rating on shares of Bright Minds Biosciences in a report on Wednesday, July 2nd. TD Cowen initiated coverage on shares of Bright Minds Biosciences in a report on Tuesday, May 13th. They issued a “buy” rating for the company. Chardan Capital reiterated a “buy” rating and set a $80.00 price target on shares of Bright Minds Biosciences in a research note on Wednesday, May 21st. Wall Street Zen cut shares of Bright Minds Biosciences from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Finally, Cowen initiated coverage on shares of Bright Minds Biosciences in a research note on Tuesday, May 13th. They set a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $83.25.

Bright Minds Biosciences Trading Down 2.1%

Shares of Bright Minds Biosciences stock opened at $42.13 on Tuesday. The company has a fifty day simple moving average of $31.37 and a 200-day simple moving average of $32.70. Bright Minds Biosciences has a 12-month low of $0.94 and a 12-month high of $79.02. The stock has a market cap of $296.60 million, a price-to-earnings ratio of -45.30 and a beta of -6.07.

Bright Minds Biosciences (NASDAQ:DRUG) last issued its earnings results on Thursday, August 14th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.06. On average, analysts forecast that Bright Minds Biosciences will post -1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bright Minds Biosciences

Large investors have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey purchased a new position in Bright Minds Biosciences during the 2nd quarter worth $28,000. JPMorgan Chase & Co. raised its position 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 buying an additional 1,873 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Bright Minds Biosciences during the 2nd quarter worth $66,000. New York State Common Retirement Fund purchased a new position in Bright Minds Biosciences during the 2nd quarter worth $107,000. Finally, Bank of America Corp DE purchased a new position in Bright Minds Biosciences during the 4th quarter worth $173,000. Hedge funds and other 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.