Bright Minds Biosciences' (DRUG) Buy Rating Reiterated at HC Wainwright

Bright Minds Biosciences (NASDAQ:DRUG - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $85.00 price target on the stock. HC Wainwright's target price indicates a potential upside of 136.18% from the stock's current price. HC Wainwright also issued estimates for Bright Minds Biosciences' Q3 2025 earnings at ($0.73) EPS, Q4 2025 earnings at ($0.88) EPS, FY2025 earnings at ($2.30) EPS, Q1 2026 earnings at ($0.96) EPS, Q2 2026 earnings at ($1.27) EPS, Q3 2026 earnings at ($1.54) EPS, Q4 2026 earnings at ($1.79) EPS, FY2026 earnings at ($5.63) EPS, FY2027 earnings at ($5.72) EPS, FY2028 earnings at ($5.80) EPS and FY2029 earnings at ($1.70) EPS.

Other analysts have also issued reports about the company. Piper Sandler initiated coverage on Bright Minds Biosciences in a report on Thursday, January 23rd. They set an "overweight" rating and a $93.00 price objective for the company. Robert W. Baird began coverage on Bright Minds Biosciences in a research note on Monday, November 25th. They set an "outperform" rating and a $75.00 price target for the company. Cantor Fitzgerald began coverage on shares of Bright Minds Biosciences in a research note on Friday, January 10th. They issued an "overweight" rating for the company. Finally, Baird R W upgraded Bright Minds Biosciences to a "strong-buy" rating in a research note on Monday, November 25th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $84.33.

Bright Minds Biosciences Stock Performance

DRUG traded down $0.16 during trading on Wednesday, reaching $35.99. The company had a trading volume of 62,471 shares, compared to its average volume of 66,037. The firm's 50-day simple moving average is $37.98 and its 200 day simple moving average is $26.66. The company has a market cap of $253.37 million, a price-to-earnings ratio of -211.69 and a beta of -6.71. Bright Minds Biosciences has a 12-month low of $0.93 and a 12-month high of $79.02.

Bright Minds Biosciences (NASDAQ:DRUG - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.23) by $0.24. On average, sell-side analysts expect that Bright Minds Biosciences will post -1.24 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in Bright Minds Biosciences during the fourth quarter worth about $238,000. Millennium Management LLC bought a new stake in shares of Bright Minds Biosciences during the fourth quarter valued at approximately $1,454,000. Point72 Asset Management L.P. acquired a new position in shares of Bright Minds Biosciences in the fourth quarter valued at $4,870,000. Janus Henderson Group PLC bought a new position in Bright Minds Biosciences in the fourth quarter worth $18,392,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Bright Minds Biosciences during the fourth quarter worth $2,465,000. 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.