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 note released on Wednesday, Marketbeat.com reports. HC Wainwright currently has a $145.00 price objective on the stock. HC Wainwright also issued estimates for Bright Minds Biosciences’ Q4 2026 earnings at ($1.38) EPS, FY2026 earnings at ($3.15) EPS, Q1 2027 earnings at ($1.30) EPS, Q2 2027 earnings at ($1.57) EPS, Q3 2027 earnings at ($1.38) EPS, Q4 2027 earnings at ($1.56) EPS, FY2027 earnings at ($5.83) EPS, FY2028 earnings at ($5.04) EPS, FY2029 earnings at ($2.79) EPS and FY2030 earnings at $2.41 EPS.

A number of other research analysts also recently weighed in on DRUG. Piper Sandler reissued an “overweight” rating and issued a $220.00 price objective (up from $190.00) on shares of Bright Minds Biosciences in a research note on Wednesday, May 20th. Zacks Research raised Bright Minds Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Wall Street Zen upgraded Bright Minds Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th. Finally, BTIG Research reissued a “buy” rating and issued a $147.00 price target on shares of Bright Minds Biosciences in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $143.83.

Bright Minds Biosciences Price Performance

Bright Minds Biosciences stock opened at $77.42 on Wednesday. The company has a market capitalization of $753.45 million, a price-to-earnings ratio of -37.22 and a beta of -5.27. Bright Minds Biosciences has a one year low of $38.00 and a one year high of $123.75. The company’s fifty day moving average price is $72.44 and its two-hundred day moving average price is $77.11.

Bright Minds Biosciences (NASDAQ:DRUG) last announced its quarterly earnings results on Monday, August 17th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $1.05. As a group, sell-side analysts anticipate that Bright Minds Biosciences will post -2.93 earnings per share for the current year.

Hedge Funds Weigh In On Bright Minds Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of DRUG. Royal Bank of Canada boosted its holdings in Bright Minds Biosciences by 240.0% in the 4th quarter. Royal Bank of Canada now owns 527 shares of the company’s stock valued at $40,000 after purchasing an additional 372 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Bright Minds Biosciences by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,465 shares of the company’s stock worth $973,000 after purchasing an additional 861 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Bright Minds Biosciences during the 3rd quarter worth about $58,000. Strs Ohio raised its position in shares of Bright Minds Biosciences by 200.0% during the first quarter. Strs Ohio now owns 2,700 shares of the company’s stock valued at $197,000 after buying an additional 1,800 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Bright Minds Biosciences by 624.3% during the second quarter. JPMorgan Chase & Co. now owns 2,173 shares of the company’s stock valued at $57,000 after buying an additional 1,873 shares during the last quarter. Institutional investors own 40.52% of the company’s stock.

Key Stories Impacting Bright Minds Biosciences

Here are the key news stories impacting Bright Minds Biosciences this week:

• Positive Sentiment: HC Wainwright raised its EPS forecasts for fiscal 2026 and each quarter of fiscal 2027. The firm now projects a fiscal 2026 loss of $3.15 per share, compared with its prior estimate of a $5.92 loss, and a fiscal 2027 loss of $5.83 per share versus a previous $9.07 loss. These revisions indicate expectations for slower losses and improving financial performance.
• Positive Sentiment: The analyst also improved its fiscal 2028 and fiscal 2029 forecasts, narrowing projected losses to $5.04 and $2.79 per share, respectively, from $7.93 and $4.04. The model continues to forecast a return to profitability in fiscal 2030, with projected EPS of $2.41.
• Neutral Sentiment: Despite the improved outlook, Bright Minds remains unprofitable, with a current-year consensus estimate of a $3.85-per-share loss. The company’s valuation therefore remains highly dependent on the progress and commercial potential of its drug-development pipeline.
• Negative Sentiment: HC Wainwright reduced its fiscal 2030 EPS estimate to $2.41 from $3.09, signaling some moderation in its long-term profitability assumptions. However, the firm retained its Buy rating and $145 target.

Bright Minds Biosciences Company Profile

Bright Minds Biosciences Inc, trading on the NASDAQ under the symbol DRUG, is a clinical-stage biotechnology company focused on developing novel small-molecule therapeutics for mental health and neurodegenerative disorders. The company’s research leverages proprietary chemistry platforms to create serotonin-modulating and neuroprotective compounds derived from psychedelic-inspired structures. Bright Minds aims to address unmet needs in conditions such as major depressive disorder, post-traumatic stress disorder and Alzheimer’s disease through orally administered treatments.

The company’s lead candidate, BMB-101, is an oral 5-HT2A receptor-modulating compound in clinical development for mood and anxiety disorders.