Cantor Fitzgerald Comments on DRUG FY2025 Earnings

Bright Minds Biosciences Inc. (NASDAQ:DRUG - Free Report) - Research analysts at Cantor Fitzgerald reduced their FY2025 EPS estimates for shares of Bright Minds Biosciences in a report issued on Thursday, March 13th. Cantor Fitzgerald analyst C. Duncan now forecasts that the company will earn ($0.87) per share for the year, down from their prior estimate of ($0.62). Cantor Fitzgerald has a "Overweight" rating on the stock. The consensus estimate for Bright Minds Biosciences' current full-year earnings is ($1.24) per share.

A number of other analysts have also recently weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Bright Minds Biosciences in a report on Wednesday, February 19th. Baird R W upgraded Bright Minds Biosciences to a "strong-buy" rating in a research report on Monday, November 25th. Robert W. Baird initiated coverage on Bright Minds Biosciences in a research report on Monday, November 25th. They issued an "outperform" rating and a $75.00 target price on the stock. Finally, 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 target on the stock. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $84.33.

Bright Minds Biosciences Price Performance

NASDAQ:DRUG traded down $0.78 during midday trading on Monday, reaching $34.23. 34,478 shares of the company traded hands, compared to its average volume of 819,674. Bright Minds Biosciences has a twelve month low of $0.93 and a twelve month high of $79.02. The company has a fifty day moving average price of $36.54 and a 200 day moving average price of $30.92. The firm has a market capitalization of $241.08 million, a price-to-earnings ratio of -201.31 and a beta of -6.45.

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Bright Minds Biosciences (NASDAQ:DRUG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.24.

Institutional Trading of Bright Minds Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE bought a new position in shares of Bright Minds Biosciences during the fourth quarter valued at $173,000. Jane Street Group LLC bought a new position in shares of Bright Minds Biosciences in the fourth quarter valued at approximately $238,000. Atika Capital Management LLC acquired a new position in shares of Bright Minds Biosciences in the 4th quarter worth approximately $540,000. Millennium Management LLC bought a new stake in Bright Minds Biosciences during the 4th quarter worth approximately $1,454,000. Finally, Boothbay Fund Management LLC acquired a new stake in Bright Minds Biosciences during the 4th quarter valued at $1,606,000. 40.52% of the stock is currently owned by institutional investors.

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.