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

Bright Minds Biosciences (NASDAQ:DRUG - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.23) by $0.24, Zacks reports.

Bright Minds Biosciences Stock Performance

DRUG stock traded down $3.92 on Monday, hitting $41.80. The company had a trading volume of 79,505 shares, compared to its average volume of 90,674. 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 stock's 50-day simple moving average is $38.15 and its 200 day simple moving average is $25.83. The stock has a market cap of $185.34 million, a price-to-earnings ratio of -83.60 and a beta of -6.71.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. HC Wainwright assumed coverage on shares of Bright Minds Biosciences in a report on Friday, January 10th. They set a "buy" rating and a $85.00 price target on the stock. Baird R W upgraded shares of Bright Minds Biosciences to a "strong-buy" rating in a report on Monday, November 25th. Cantor Fitzgerald began coverage on shares of Bright Minds Biosciences in a report on Friday, January 10th. They set an "overweight" rating on the stock. Piper Sandler began coverage on shares of Bright Minds Biosciences in a report on Thursday, January 23rd. They issued an "overweight" rating and a $93.00 target price on the stock. Finally, Robert W. Baird began coverage on shares of Bright Minds Biosciences in a report on Monday, November 25th. They issued an "outperform" rating and a $75.00 target price on the stock. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Bright Minds Biosciences presently has a consensus rating of "Buy" and an average target price of $84.33.

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.