Analysts at Cantor Fitzgerald started coverage on shares of Bright Minds Biosciences (NASDAQ:DRUG - Get Free Report) in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage set an "overweight" rating on the stock.
A number of other equities research analysts have also recently commented on DRUG. Baird R W raised Bright Minds Biosciences to a "strong-buy" rating in a research note on Monday, November 25th. Robert W. Baird assumed coverage on Bright Minds Biosciences in a research note on Monday, November 25th. They set an "outperform" rating and a $75.00 target price on the stock. Finally, HC Wainwright started coverage on shares of Bright Minds Biosciences in a report on Friday. They issued a "buy" rating and a $85.00 target price on the stock.
Check Out Our Latest Research Report on DRUG
Bright Minds Biosciences Price Performance
DRUG traded down $2.15 on Friday, hitting $38.89. The company had a trading volume of 48,725 shares, compared to its average volume of 72,071. The stock has a fifty day simple moving average of $40.68 and a 200-day simple moving average of $18.68. The firm has a market capitalization of $172.44 million, a P/E ratio of -57.19 and a beta of -6.52. Bright Minds Biosciences has a 52-week low of $0.93 and a 52-week high of $79.02.
Bright Minds Biosciences (NASDAQ:DRUG - Get Free Report) last announced its quarterly earnings data on Monday, December 30th. The company reported ($0.12) EPS for the quarter.
Insider Buying and Selling at Bright Minds Biosciences
In related news, major shareholder Cormorant Asset Management, Lp purchased 372,591 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The stock was bought at an average price of $5.53 per share, for a total transaction of $2,060,428.23. Following the completion of the transaction, the insider now owns 825,000 shares in the company, valued at approximately $4,562,250. The trade was a 82.36 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 42.66% of the stock is currently owned by insiders.
Bright Minds Biosciences Company Profile
(
Get Free Report)
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.
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